Fitch raises Tamweel rating to positive

Posted by on Okt 4th, 2010 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Fitch Ratings has revised the Rating Watch on UAE-based Tamweel's Long-term Issuer Default Ratings (IDR), Short-term IDR, Support Rating and Support Rating Floor to 'Positive' (RWP) from 'Evolving' (RWE). The move follows the acquisition by Dubai Islamic Bank of a majority stake in the Shari'ah-compliant mortgage lender. The rating agency also affirmed Tamweel's 'E' Individual Rating, reflecting its weak standalone risk profile.

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