Bank ABC Jordan’s Ratings Affirmed with a Stable Outlook

Bank ABC Jordan’s Ratings Affirmed with a Stable Outlook

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 ( Bank ABC Jordan ) 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 is Stable.

CI’s ESL assessment does not result in any uplift for the Bank’s LT FCR because the BSR is already at the sovereign level. The likelihood of extraordinary support in the event of need is deemed to be high in view of the Bank’s strong ownership and the high probability of support from Bahrain-based parent, Ba nk ABC, in the event of need. CI believes the willingness of the…