Abu Dhabi Commercial Bank – Ratings Affirmed with a Stable Outlook
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Ref: AE0 012 2 CRA 00- 0 1 2 2 September 202 3
Abu Dhabi Commercial Bank – Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Abu Dhabi Commercial Bank (ADCB) at ‘A+’ and ‘A1’ , respectively. At the same time , CI Ratings has affirmed ADCB’s Bank Standalone Rating (BSR) of ‘bbb+’, Core Financial Strength (CFS) rating of ‘bbb+ ’ and E xtraordinary S upport L evel (ESL) of Very High . The O utlook for the ratings is Stable .
The Bank’s LT FCR is set three notches above the BSR to reflect the ESL of Very High. Our support assessment takes into account the wealthy Abu Dhabi government’s majority ownership of the Bank, ADCB’s large size and good franchise , as well as its D-SIB status. The UAE…