Rakbank's ratings affirmed by Capital Intelligence

26 September 2010

Outlook reflects good management and sound financials

Capital Intelligence has affirmed Rakbank’s foreign currency ratings at ‘A-’ long-term and ‘A2’ short-term. The financial strength rating is maintained at ‘BBB+’, reflecting the bank’s good management and sound financials, particularly in the areas of profitability and capital adequacy, CI said. The ratings are underpinned by the bank’s good financial fundamentals and the likelihood of support from the UAE authorities, the rating agency said.

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