Ahli United Bank – LT FCR Affirmed and BSR Lowered

Ref: B H 0 29 2 3 CRA00- 0 1 2 8 November 20 2 4

Ahli United Bank – LT FCR Affirmed and BSR Lowered

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Ahli United Bank’s (AUB) Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) at A-’ and ‘A2’, respectively. The Outlook for the LT FCR has been revised to Stable from Negative. At the same time, AUB’s Bank Standalone Rating (BSR) has been lowered to ‘bbb’ from bbb+’ and the Outlook for the BSR revised to Stable from Negative. The Extraordinary Support Level (ESL) remains High.

The lowering of the BSR follows the divestment of Ahli United Bank Kuwait (AUBK) and the consequent increase in the Bank’s standalone risk profile arising from its increased exposure to the weaker Bahraini operating environment. The LT FCR is set two notches above the BSR to reflect the high likelihood of…