VOL. XL

No. 29

21-July-1997

UAE

Thomson Bankwatch Rates UNB

On 17 July the US ratings agency Thomson Bankwatch assigned first-time ratings to UnionNational Bank (UNB) of Abu Dhabi. The ratings are:

Intra-Country Issuer Rating

IC-B

Short-Term Local Currency Debt Rating

LC-1

Senior Debt Rating

A-

UNB commenced its operations in 1991 after the renaming of the Bank of Credit andCommerce Emirates, an affiliate of the failed Bank of Credit and Commerce International(BCCI). The bank is...