Arab Banking Corporation’s Ratings Affirmed
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Ref: B H 0 04 2 1 CRA 00-01 17 August 202 2
Arab Banking Corporation’s Ratings Affirmed
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Arab Banking Corporation’s (ABC) L ong-Term F oreign Currency Rating (LT FC R ) and Short-Term Foreign Currency ( ST FCR ) at ‘BBB+’ and ‘A2’, respectively. At the same time, CI Ratings has affirmed ABC’s B ank Standalone Rating (B SR ) of ‘bbb’, C ore F inancial S trength (CFS) rating of ‘bbb’ , and E xtraordinary Support Level (ESL) of Moderate. The Outlook on 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 one of the core founding shareholders, the Kuwait Investment Authority (KIA; Kuwait’s sovereign wealth fund). Historically, both the principal shareholders, the Central Bank of Libya (CBL) and the KIA have…