VOL. XLIII

No. 35

28-August-2000

UAE

Capital Intelligence Upgrades National Bank Of Fujairah From BBB- To BB+

Ratings agency Capital Intelligence (CI) on 17 August announced that it had upgraded the long-term foreign currency rating of the UAEs National Bank of Fujairah (NBF) from BB+ to BBB-. The short-term foreign currency rating, the agency said, is retained at A3 and the domestic strength rating at BBB-. CI said that since the government holds a 38% stake in the bank, NBF is likely to...