National Bank of Abu Dhabi's rating upgrated by Moody's

08 September 2003

The rating has moved to C from C-

UAEInternational rating agency Moody’s Investors Servicehas upgraded the financial strength rating (FSR) of National Bank of Abu Dhabi (NBAD)to C from C-.

The outlook on the FSR is stable. Moody’s attributed the upgrade to NBAD’s increased earning power, improved financial fundamentals, satisfactory asset quality and adequate capital position.

‘Management’s increased focus on the level and quality of earnings has resulted in a significant improvement in NBAD’s earning power during the last few years,’ the ratings agency said in a statement issued on 1 September.

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