RAKBANK announced that Moody’s Ratings has reaffirmed the bank’s credit ratings while revising its outlook to Stable, reflecting continued confidence in the bank’s credit profile and financial strength.
According to the disclosure, Moody’s completed a ratings review and reaffirmed RAKBANK’s existing ratings across key categories.
Key highlights:
• Long-Term Deposit Rating reaffirmed at Baa1
• Short-Term Deposit Rating reaffirmed at P-2
• Long-Term Counterparty Risk Rating reaffirmed at A3
• Short-Term Counterparty Risk Rating reaffirmed at P-2
• Baseline Credit Assessment (BCA) maintained at baa3
• Adjusted Baseline Credit Assessment maintained at baa3
• Senior Unsecured MTN Programme rating maintained at (P)Baa1
• Outlook revised to Stable
Moody’s noted that obligations rated in the Baa category are considered subject to moderate credit risk and are classified as investment-grade ratings.
RAKBANK stated that the ratings action has no expected financial impact on the bank’s business operations or financial position.
The ratings reaffirmation and Stable outlook reflect Moody’s assessment of RAKBANK’s overall credit profile, financial resilience and operating performance.
Source: Abu Dhabi Securities Exchange (ADX) Disclosure / RAKBANK
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.