Dubai - Mubasher: Fitch Ratings has affirmed the long-term issuer default rating (IDR) of Mashreq Bank and Dubai Islamic Bank (DIB) at 'A', with a stable outlook.

The global rating agency has maintained DIB's Viability Rating (VR) at 'bb+', while Mashreq's 'bbb-' VR on Rating Watch Negative (RWN) was affirmed, according to recent press releases.

Affirming the IDR of both banks shows Fitch's view of a high probability of support available to the banks from the UAE authorities if needed.

Meanwhile, maintaining DIB's 'bb+' VR reflects the bank's weak asset quality metrics, while Mashreq's VR shows the bank's resilient franchise, experienced management team, sound risk appetite, and healthy liquidity.