Middle East Economic Survey

VOL. XLVII

No 42

18-October-2004

UAE

RATINGS

Capital Intelligence Upgrades Union National Banks Foreign Currency Rating

Capital Intelligence announced on 12 October that it had increased the foreign currency long-term rating of Abu Dhabis Union National Bank (UNB) to A from A- in view of the sustained improvement in its financials. The short-term rating is unchanged at A2, and the financial strength rating remains at A-. The outlook is stable. The banks high quality...