Emirates NBD PJSC -- Moody's upgrades Emirates NBD's long-term ratings to A3 from Baa1; outlook stable

Limassol, June 16, 2016 -- Moody's Investors Service has today upgraded Emirates NBD PJSC's (ENBD) long-term deposit and senior unsecured ratings to A3 from Baa1 and the bank's Counterparty Risk Assessment (CR Assessment) to A2(cr)/P-1(cr) from A3(cr)/P-2(cr) following the upgrade of its baseline credit assessment (BCA) to ba1 from ba2 and Moody's maintenance of existing government support assumptions, which result in four notches of rating uplift. Concurrently, the rating agency affirmed the bank's Prime-2 short-term deposit ratings. The outlook on the long-term ratings is stable.

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