Dubai - Mubasher: Moody's Investors Service has assigned P-2 short-term local and foreign currency rating to Mashreq Bank's $1 billion certificate of deposit programme acting through its Hong Kong branch.

The ratings agency has aligned the Prime-2 ratings on the certificate of deposit programme with Mashreq's Prime-2 short-term deposit ratings, and Baa1 deposit rating with a stable outlook.

The rating alignment reflects two primary considerations, the instrument issued under the 
programme will be direct, unconditional, unsubordinated and unsecured obligations of Mashreq, and at 
all times the issuance will rank without preference or priority among themselves , and in all respects with all other present and future unsecured and unsubordinated obligations of Mashreq.