Capital Intelligence reaffirms Bank of Umm Al Quwain rating
Capital Intelligence agency has affirmed the credit ratings of Bank Al Qiyada Al Dhahabiya Al Wataniya (Umm Al Quwain National Bank) at "A-" for long-term foreign currency rating and "A2" for short-term, with a stable outlook. The ratings reflect high government support, which underscores the bank’s strong capacity and willingness to receive future backing. The rating is two notches above the independent rating of "bbb," and relies on the high level of support the agency anticipates from the UAE government, which has previously demonstrated its backing for the bank. The positive rating also reflects the stable credit environment in the emirate, with the sovereign ratings of the country aligning at "AA-" and "A1+."
Notice: This Is an AI-Generated Summary
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