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Emirates NBD requests ratings withdrawal

Dubai, March 13, 2012

Emirates NBD has announced that it has requested Fitch Ratings and Moody’s Investors Service to withdraw their ratings on Dubai Bank.   

Following the completion of the takeover of Dubai Bank by Emirates NBD, all capital and medium term funding requirements for Dubai Bank are managed under the group umbrella and accordingly credit ratings are no longer required for this entity, said a statement from Emirates NBD.

Dubai Bank has no outstanding debt rated by either Fitch or Moody’s and therefore creditors are unaffected by this decision, the statement said. – TradeArabia News Service




Tags: Moody’s Investors Service | fitch ratings | Emirates NBD |

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