Ahli United Bank’s Ratings Affirmed with a Stable Outlook

Ref: B H 0 29 1 9 CRA00-1 17 November 20 20

Ahli United Bank’s Ratings Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong- Term F oreign C urrency R ating (LT FCR) and S hort- T erm F oreign C urrency R ating (ST FCR) of Ahli United Bank B.S.C. (A UB ) at ‘ A- ’ and ‘ A2 ’ , respectively. At the same time, CI Ratings has affirmed AUB’s B ank Standalone Rating (B SR ) of ‘bbb+’. The Outlook for the LT FCR and BSR remains Stable.

The Bank’s LT FCR is set one notch above the BSR to reflect the moderate likelihood of extraordinary support from the core Kuwaiti shareholder, the Public Institution for Social Security (PIFSS). The latter owns 18.7% of shares and, given its importance as a Kuwait government entity, is deemed to have the capacity and willingness to provide support in case of need. The strategic…