Moody's changes Emirates NBD to stable

Moody's Investors Service said it affirmed Emirates NBD PJSC's Baa1 long-term deposit ratings, Prime-2 short-term deposit ratings and D standalone bank financial strength rating, equivalent to a ba2 baseline credit assessment.

The outlook was changed to stable from negative.

The change in outlook to stable from negative reflects Moody's view that, while large, concentrated related-party risks continue to leave the bank susceptible to event risk related to the Dubai government and constrain the bank's standalone rating, the overall improving Dubai operating environment moderates the risk of related credit events over the outlook horizon.

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