Moody's has completed its periodic review of RAK Bank's ratings, confirming that all ratings remain unchanged. The long-term ratings outlook remains positive. The agency affirmed the long-term deposit ratings in local and foreign currency at A1, as well as the Bank Financial Strength (BFS) rating at baa3. All other ratings related to the bank were also left unchanged. Moody's stated that the deposit ratings reflect the BFS, supplemented by two notches of additional support based on the assumption of a very high likelihood of receiving support from authorities. Moody's also affirmed the long-term deposit rating at Baa1, the BFS rating at baa3, and kept the bank's other ratings unchanged, maintaining a stable outlook.
