Ratings of Emirates NBD Affirmed with a Stab le Outlook
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Ref: AE0 31 20 CRA00- 0 1 7 October 202 1
Ratings of Emirates NBD Affirmed with a Stab le Outlook
Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed the Long-Term Foreign C urrency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Emirates N BD PJSC (ENBD) at ‘A+’ and ‘A1’, respectively. CI Ratings has also affirmed ENBD’s Bank Standalone Rating (BSR) of ‘bbb’, Core Financial Strength (CFS) rating of ‘a-’ and Extraordinary Support Level (ESL) of Very High . The Outlook for the LT FCR and BSR is Stable .
The Bank’s LT FCR is set four notches above the BSR to reflect the very high extraordinary support level (ESL) . Our ESL assessment takes into account the Bank’s large…