VOL. XLVI

No 24

16-June-2003

ABU DHABI

RATINGS

Capital Intelligence Upgrades Mashreqbank

Capital Intelligence announced on 9 June that it had raised the foreign currency ratings of Mashreqbank to BBB+ long-term and A2 short-term, from BBB and A3 respectively. The financial strength rating was upgraded to A-, from BBB+. The support rating is unchanged at 3 and the outlook reverts to Stable from Positive. The bank, which is among the oldest domestic banks in the country, is majority owned by the...