Monday 29, December 2008 by
Standard & Poor's cuts ratings on UAE banks
Standard & Poor’s has lowered its long- and short-term counterparty credit ratings on Dubai Islamic Bank to 'A-/A-2' from 'A/A-1' and revised its outlook on the bank to negative from stable; revised its outlook on Emirates Bank International and National Bank of Dubai to negative from stable and affirmed its 'A/A-1' counterparty credit ratings on the two banks; and revised its outlook on Sharjah Islamic Bank to stable from positive and affirmed its 'BBB/A-2' counterparty credit ratings on the bank.
