Moody’s affirms ADIB currency issuer ratings

Dubai

Moody’s Investors Service, the credit ratings agency, on Thursday affirmed Abu Dhabi Islamic Bank’s A2/Prime-1 long- and short-term domestic and foreign currency issuer ratings.

Moody’s also upgraded the bank’s stand-alone baseline credit assessment to ba1 from ba2. The upgrade reflects Moody’s view that the bank has developed a stronger funding structure supported by a stable deposit base.

The outlook on ADIB’s ratings remains negative, in line with the outlook of the sovereign rating of the government of the UAE where the bank primarily operates.