National Bank of Umm Al Qaiwain’s Ratings Affirmed with a Stable Outlook
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Ref: AE018 1 20 CRA 00- 0 1 2 8 Sep tember 202 1
National Bank of Umm Al Qaiwain’s 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 Umm Al Qai wain (NBQ) at ‘A-’ and ‘A2 ’ , respectively. At the same time, CI Ratings has affirmed NBQ’s Ban k Standalone Rating (BSR) of ‘bbb’, Core Financial Strength (CFS) rating of ‘bbb-’ and Extraordinary Support Level (ESL) of High. The Outlook for the ratings remains Stable .
NBQ’s LT FCR is set two notch es above the BSR and reflects the Bank’s ESL of High. CI expects the Bank to receive extraordinary support from the UAE government (sovereign ratings: ‘AA-’/ ‘A1+’/ Stable) in case of need. The government has demonstrated such support in the…