Moody's on Sept. 19 withdrew all of Al Hilal Bank PJSC's ratings for its own business reasons.
The agency withdrew the Abu Dhabi-based lender's A2/P-1 long- and short-term issuer ratings, "ba3" baseline credit assessment, "ba1" adjusted baseline credit assessment, A1/P-1 long- and short-term counterparty risk ratings and A1(cr)/P-1(cr) long- and short-term counterparty risk assessments.
The outlook on the long-term issuer rating was stable prior to its withdrawal.
In May, Al Hilal Bank was acquired by the combined entity comprising Abu Dhabi Commercial Bank PJSC and Union National Bank - PJSC, a transaction that completed the three-way tie-up between the United Arab Emirates-based lenders.
