National Bank of Fujairah – Ratings Affirmed with a Stable Outlook
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Ref: AE016 2 3 CRA00- 0 1 9 August 202 4
National Bank of Fujairah – Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of National Bank of Fujairah (NBF) at ‘A-’ and ‘A2’, respectively. At the same time, CI Ratings has affirmed NBF’s Bank Standalone Rating (BSR) of ‘bbb’ , Core Financial Strength (CFS) rating of ‘bbb’ , and Extraordinary Support Level ( ESL ) of High . The Outlook for the LT FCR and BSR is Stable.
The LT FCR is set two notches above the BSR to reflect the Bank’s ESL of High. CI expects the Bank to receive support from the UAE government (sovereign ratings:…