Fitch cuts ratings of some UAE entities

Mashreqbank, National Bank of Ras Al Khaimah and Tamweel were among UAE entities whose ratings were downgraded by Fitch Ratings yesterday. Ratings of Dubai Bank of Sharjah, Commercial Bank of Dubai, Dubai Bank, Emirates Bank International were also cut. Dubai Holding Commercial Operations Group and Dubai Electricity and Water Authority fell by two notches to 'A-' from 'A+'.

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