Following a review under Standard&Poor's revised bank criteria (published Nov. 9, 2011), we have affirmed our 'A+/A-1' long- and short-term ratings on the United Arab Emirates-based National Bank of Abu Dhabi (NBAD). Our ratings on NBAD reflect the bank's 'bbb-' anchor, as well as its strong business position, strong capital and earnings profile, strong risk position, average funding, and adequate liquidity. The ratings on NBAD benefit from two notches of uplift for potential extraordinary government support in a crisis. The stable outlook reflects our expectation that NBAD will remain a dominant player in the UAE with no significant change in its business and financial profile in the next 12 to 24 months. As previously announced on Dec. 14,
