Rakbank - Ratings Raised; Outlook Revised to Stable

Overview

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has raised the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of National Bank of Ras Al Khaimah (Rakbank) to 'A' and 'A1', respectively, from 'A-' and 'A2'. Rakbank's Bank Standalone Rating (BSR) and Core Financial Strength (CFS) rating have both been raised to 'bbb+' from 'bbb'. At the same time, CI Ratings has revised the Outlook for the LT FCR and BSR to Stable from Positive. The Extraordinary Support Level (ESL) of High is affirmed.

Attachments

• Rating Announcement (CRA)
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• Bank Rating Report (UAE, National Bank of Ras Al-Khaimah (RAKBANK))
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