Dubai-Mubasher: Moody's Investors Service has affirmed Dubai - based Mashreq Bank Baa2/Prime-2 long and short term local and foreign currency deposit ratings and ba1 baseline credit assessment (BCA) 
and adjusted BCA.

At the same time, Moody's changed the outlook on the bank's long term deposit and senior unsecured debt ratings to positive from stable.

Moody's affirmation reflects Mashreq's consistently strong capital levels combined with solid funding and liquidity profile despite tightening regional liquidity and solid profitability driven by 
established franchise. These strengths are moderated by high concentration risks albeit lower than its UAE peers and high growth.

The change in outlook to positive from stable reflects Moody's view that Mashreq will sustain the improvements in asset quality and coverage levels despite the low oil-price operating environment. 

Futher supporting Moody's views is their expectation that Dubai's economy and overall operating environment, where Mashreq has significant operations, will remain broadly resilient.