Moody's has affirmed Emirates NBD's long-term deposit and senior unsecured ratings at A2, and raised the outlook on the long-term deposit and senior unsecured ratings to positive from stable.
The agency affirmed Emirates NBD's Baseline Credit Assessment (BCA) and Adjusted Baseline Credit Assessment (BCA) at baa3.
Moody's also affirmed the bank's short-term deposit ratings at P-1, as well as the long- and short-term counterparty risk assessments at A1 (cr)/P-1 (cr) and the long- and short-term counterparty risk ratings at A1/P-1, respectively.
The agency affirmed the ratings of the senior unsecured foreign currency sukuk programme and the subordinated ratings of the senior unsecured foreign currency sukuk programme at (P)A2 and (P)Baa1 respectively, in addition to affirming the rating of the senior unsecured foreign currency sukuk programme supported by the financing instrument of Emirates NBD Sukuk Company Limited at (P)A2.
