United Arab Bank’s Ratings Affirmed

United Arab Bank’s Ratings Affirmed

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 United Arab Bank (UAB) at ‘BBB’ and ‘A2’, respectively . At the same time, CI Ratings has affirmed UAB’s Bank Standalone Rating (BSR) of ‘bb+’, Core Financial Strength (C FS) rating of ‘bb-’ and Extraordinary Support Level ( ESL ) of High . The Outlook for the LT FCR and BSR remains Negative.

UAB’s LT FCR is set two notches above BSR to reflect the high likelihood of the Bank receiving extraordinary support from the government in case of need. The UAE government ( S overeign R atings: ‘AA-’/ ‘A1+’/ Stable) has demonstrated such support in the past and, in CI’s view, has the means and willingness to continue to do so in the future.

The Bank’s BSR is…