Arab Bank Plc– Outlook Revised to Positive Following Sovereign Rating Action; Ratings Affirmed
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Ref: JO00122PBK00-01 15 December 2022
Arab Bank Plc– Outlook Revised to Positive Following Sovereign Rating Action; Ratings Affirmed
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR ) Outlook of Arab Bank Plc (AB) to Positive from Stable. At the same time, the Bank’s LT FCR and Short- Term Foreign Currency Rating (ST FCR) have been affirmed at ‘B+’ and ‘B’, respectively. The Bank’s BSR and Core Financial Strength (CFS) rating have also been affirmed at ‘b+ and ‘bbb-’, respectively.
The Positive outlook mirrors a similar action on Jordan’s sovereign ratings and indicates that the Bank’s LT FCR and BSR are likely to be raised by one notch in the next 12 months , provided the sovereign’s ratings are upgraded as currently expected. The Bank’s standalone rating is constrained by…