Fitch affirms Emirates Bank

Fitch Ratings said it has affirmed Emirates Bank International's long-term issuer default rating at AA- with a stable outlook.

Fitch said it has simultaneously affirmed Emirates Bank's short-term issuer default rating at F1+, individual rating at C, support rating at 1 and support rating floor at AA-.

Emirates Bank's issuer default ratings and support rating reflect the extremely high probability of support for the bank from the UAE authorities, if needed, Fitch said, noting that its opinion of likely support is based upon the company's size, significant domestic franchise, its ultimate majority ownership by the government of Dubai and the long history of support in the United Arab Emirates.

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