Moody’s lifts Emirates NBD view to positive

Moody's Investors Service said it affirmed Emirates NBD PJSC's Baa1 long-term deposit ratings, Prime-2 short-term deposit ratings and ba2 baseline credit assessment, and changed the outlook on the long-term ratings to positive from stable.

Moody's said the outlook change reflects its view that despite the low oil-price operating environment, the bank will continue to improve its loss-absorption capacity and asset quality metrics. The agency also considers that, while large concentrated related-party and borrower risks continue to leave the bank susceptible to event risk related to the Dubai government and constrain the bank's standalone rating, the Dubai economy and overall operating environment will remain broadly resilient despite the decline in oil prices.

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