Mubasher: Fitch Ratings has affirmed the Arab bank for investment & foreign trade’s (Al Masraf) Long-Term Issuer Default Rating (IDR) at 'A', with a stable outlook.
The UAE bank’s viability rating (VR) was affirmed at 'b+', according to a statement released by Fitch Ratings on Tuesday.
“Al Masraf’s Long- and Short-Term IDRs, SR and SRF reflect an extremely high probability of support available to the bank from the UAE and Abu Dhabi authorities, if needed,” the rating agency added.
Al Masraf’s VR reflects its undiversified business model substantial problem loans, Fitch revealed.
