Middle East Economic Survey

VOL. XLVII

No 36

6-September-2004

UAE

RATINGS

Capital Intelligence Upgrades First Gulf Bank

Capital Intelligence (CI) has increased the long-term foreign currency and financial strength ratings of Abu Dhabi-based First Gulf Bank. Both were raised to BBB from BBB-. The short-term foreign currency rating remains unchanged at A3 and the outlook is stable. FGB is currently one of the fastest growing banks in the UAE its assets have more than tripled over the last three years...