Moodys Upgrades Rating For UAEs Mashreqbank
Moodys announced on 16 December that it had upgraded the foreign currency deposit ratings for Mashreqbank to A3/Prime-2 from Baa3/Prime-3 and its financial strength rating (FSR) to C- from D+. Moodys put the outlook for all ratings at stable. A statement released by Moodys said that the FSR upgrade reflects Mashreqbanks growing franchise within the UAE and its improving financial fundamentals. The higher FSR also...