VOL. XL
No. 51/52
22/29-December-1997
UAE
Moody's Upgrades Three UAE Banks
In keeping with a recent wave of upgrades, the US ratings agency Moody's InvestorsService announced on 15 December that it has raised the long-term foreign currency depositrating of three government-owned banks in the United Arab Emirates. Abu Dhabi CommercialBank (ADCB), Emirates Bank International (EBI) and National Bank of Abu Dhabi have all hadtheir rating upgraded to A2 from Baa1. The move follows Moody's earlier...
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