Abu Dhabi Commercial Bank’s Ratings Affirmed with a Stable Outlook
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Ref: AE0 0119 CRA 00- 0 1 2 4 September 2020
Abu Dhabi Commercial Bank’s 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 one notch below the sovereign rating ( ‘AA-’/‘A1+’/Stable). CI considers the likelihood of extraordinary official support in the event of need to be very high. Our support assessment takes into account the very wealthy Abu Dhabi government’s majority…