National Bank of Fujairah’s Ratings Affirmed with a Stable Outlook
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Ref: AE01619 CRA 00-1 2 7 th August 2020
National Bank of Fujairah’s Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) announced today that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of the 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 High ESL. CI expects the Bank to receive support …