VOL. XLIV

No 39

24-September-2001

UAE

CapitalIntelligence Upgrades Two UAE Banks

Ratings agency CapitalIntelligence (CI) announced on 13 September that following a review of itsratings assigned to 18 banks in the UAE it had upgraded the long-term foreigncurrency ratings to investment grade, BBB-, of two Sharjah-based banks, Bank ofSharjah (BOS) and United Arab Bank (UAB). In addition, the agency said that ithad assigned a positive outlook to the ratings of First Gulf Bank (FGB) andInvestbank,...