Cairo-Mubasher: Moody's Investors Service lowered United Arab Bank's (UAB) long-term deposit rating to Baa2 from Baa1, according to a recent report by Moody's.
Moody’s ratings downgrade followed the one-notch downgrade of the bank's baseline credit assessment (BCA) and adjusted BCA to ba1 and baa3, respectively.
The new rating reflects UAB's weakening asset quality metrics and the risk of a further rise in problem loans in the coming period, which will negatively affect the bank’s profits.
