We think that National Bank of Abu Dhabi (NBAD) will continue to operate with strong financial and business metrics over the next 24 months. Over the past few years, NBAD has improved its funding and liquidity ratios and continues to have good access to long-term and stable funding. We project that our risk-adjusted capital ratio for NBAD will remain below 15%, given our expectations for the bank's balance-sheet growth. We are affirming our 'AA-/A-1+' ratings on NBAD. The stable outlook reflects our view that the bank's credit profile will remain largely unchanged over the next 24 months. On July 1, 2015, Standard&Poor's Ratings Services affirmed its 'AA-/A-1+' long- and short-term counterparty credit ratings on National Bank of Abu
