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Moody's withdraws ratings of UAE's Invest Bank

Moody's on Oct. 18 withdrew the ratings of UAE-based Invest Bank PSC, citing its own business reasons.

The agency withdrew the bank's Ba3/NP long- and short-term bank deposits; Ba2/NP long- and short-term counterparty risk ratings; Ba2(cr)/NP(cr) long- and short-term counterparty risk assessments; and "b2" baseline credit assessment and adjusted baseline credit assessment.

The bank's long-term deposit ratings carried a negative outlook at the time of withdrawal.