National Bank of Umm Al Qaiwain’s Ratings Affirmed , with a Stable Outlook
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Ref: AE018 1 2 1 CRA 00- 0 1 8 Sep tember 202 2
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 L ong- T erm F oreign C urrency R ating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of National Bank of Umm Al Qaiwain (NBQ ) at ‘A-’ and ‘A2’ , respectively , and the B ank S tandalone R ating (BSR) at ‘bbb’ . The Outlook for the LT FCR and BSR is Stable. At the same time, CI Ratings has raised the Bank’s Core Financial Strength (CFS) rating to ‘bbb’ from ‘bbb-’. T he Extraordinary Supp ort Level (ESL) of High is affirmed.
The change in the CFS primarily reflects our expectation that the Bank will more than likely maintain its sound financials over the long term and that a ‘bbb’ rating more accurately reflects NBQ ’s current…