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Fitch downgrades Dubai Bank's Individual Rating to 'F'

Mon, 2011-05-23 14:07 — newsdesk

Fitch Ratings has downgraded UAE-based Dubai Bank's Individual Rating to 'F' . After the intervention by the Government of Dubai, taking full control of the bank, and providing a significant capital injection, the bank has also been removed from Rating Watch Negative (RWN).
Fitch downgraded Dubai Bank's Individual Rating in March 2011 because of its weakening financial position.

Source: 

http://www.cpifinancial.net/v2/News.aspx?v=1&aid=8035&sec=Islamic%20Finance