Middle East Economic Survey
S&P Assigns NBAD A/A-1 Ratings
Standard & Poors (S&P) announced on 31 January that it had assigned its A/A-1 long- and short-term counterparty credit and certificate of deposit ratings to National Bank of Abu Dhabi (NBAD), the largest bank in the UAE. The outlook is stable. The ratings reflect the bank's ownership the government of Abu Dhabi has a 73% shareholding in NBAD through the Abu Dhabi Investment Authority (ADIA)...