Mubasher: Moody's Investors Service has upgraded Mashreq Bank’s long-term deposit ratings to Baa1 from Baa2, with a “stable” outlook on the bank's long-term ratings, according to a statement.
The ratings agency also adjusted the bank's baseline credit assessment (BCA) to baa3 from ba1.
The upgrade of Mashreq's ratings reflects improved asset quality and coverage, strong profitability, solid capital and liquidity buffers and continued high support from the UAE government.
