Middle East Economic Survey

VOL. LIII

No 38

20-Sep-2010

UAE

S&P Downgrades Abu Dhabi Commercial Bank Credit Ratings

Standard & Poors Ratings Services (S&P) has lowered the long and short term counterparty credit ratings for Abu Dhabi Commercial Bank (ADCB), from A/A-1 to A-/A-2, with the outlook stable. The ratings agency cited the downturn in Dubai as the main cause, hampering the banks efforts to improve its financial performance. The downgrade reflects our view that ADCBs credit...