Fitch affirms National Bank of Ras Al-Khaimah

Fitch Ratings said it affirmed National Bank of Ras Al-Khaimah's long-term issuer default rating at BBB+ and short-term issuer default rating at F2. The bank's senior notes were affirmed at BBB+.

The outlook is stable.

The ratings reflect the belief that there is a high probability that support would be forthcoming from the United Arab Emirates authorities in case of need, given the strong history of support being provided by the authorities to banks in the United Arab Emirates and the government of Ras Al-Khaimah's 52.8% stake, the agency said.

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