Bank ABC Jordan – Outlook Revised to Positive F ollowing Sovereign Rating Action ; Ratings Affirmed
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Ref: JO003 22PBK00-01 15 Dece mber 202 2
Bank ABC Jordan – Outlook Revised to Positive F ollowing Sovereign Rating Action ; Ratings Affirmed
Capital Intelligence Ratings (CI Ratings or CI) today announced tha t it has revised the Long-Term Foreign Currency Rating (LT FCR) Outlook of Arab Banking Corporation Jordan (Bank ABC Jordan ) and Bank Standalone Rating (BSR ) 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 al so been affirmed at ‘b+ and ‘bb+ ’, 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 s overeign’s ratings are upgraded as currently…