Bank ABC Jordan – Ratings Affirmed

Bank ABC Jordan – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Arab Banking Corporation Jordan ( Bank ABC ) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed Bank ABC’s Bank Standalone Rating (BSR) of ‘b+’, Core Financial Strength (CFS) rating of ‘bb + ’, and Extraordinary Support Level (ESL) of High . The Outlook for the LT FCR and BSR remains Positive .

CI’s ESL assessment does not result in any uplift for the LT FCR as the BSR is already at the sovereign level, and the Bank does not fulfil our criteria for being rated above Jordan ( sovereign ratings: ‘B+’/‘B’/ Positive ). Nevertheless, the likelihood of extraordinary support in the event of need is deemed to be high in view of the Bank’s strong ownership and…