Moody's Downgrades Dubai's Emirates NBD, Mashreqbank, CBD on Problem Loans

Closed Thread Subscribe

Thread Tools

Dec 9th 2012, 5:22 am

Millhouse

Lost in BE Cyberspace

Thread Starter

Joined: Aug 2009

Location: Disneyland, Dubai

Posts: 15,887

Millhouse has a reputation beyond repute

Moody's Downgrades Dubai's Emirates NBD, Mashreqbank, CBD on Problem Loans

DUBAI (Zawya Dow Jones)--Credit rating firm Moody's Investors Service has downgraded three Dubai-based banks and put a fourth on watch for a possible downgrade owing to high levels of problem loans.

http://www.zawya.com/story/Moodys_Do...0121207000074/

No problems here of course.

Dec 9th 2012, 5:29 am

al dente

BE Forum Addict

Joined: Jun 2008

Location: Abu Dhabi by body and Sydney by soul

Posts: 1,841

Re: Moody's Downgrades Dubai's Emirates NBD, Mashreqbank, CBD on Problem Loans

Quote:

Originally Posted by Millhouse

Yep. No problems here. <whispers> How much is being borrowed for all the new construction projects?

Last edited by al dente; Dec 9th 2012 at 5:30 am. Reason: tone all wrong, i was agreeing with you.

Dec 9th 2012, 5:58 am

The Dean

Lost in BE Cyberspace

Joined: Jul 2007

Posts: 13,553

Re: Moody's Downgrades Dubai's Emirates NBD, Mashreqbank, CBD on Problem Loans

Quote:

Originally Posted by al dente

Yep. No problems here. <whispers> How much is being borrowed for all the new construction projects?

Nothing........... yet. That (indirectly) is part of the problem - banks are limited (in terms of percentage of total assets) in how much they can lend to each sector (e.g. real estate, construction, etc) - and they are mostly still 'full up' from the last property boom...........