Middle East Economic Survey
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...