Bank Al Etihad – Ratings and Positive Outlook Affirmed

Ref: JO 0182 3 CRA00-01 21 May 202 4

Bank Al Etihad – Ratings and Positive Outlook 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 Bank Al Etihad (BAE) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed B AE ’s Bank Standalone Rating ( BSR) of ‘b+’, Core Financial Strength ( CFS) rating of ‘bb+’, and Extraordinary Support Level ( ESL) of Moderate . The Outlook for the LT FCR and BSR remains Positive .

The Bank’s BSR is based on a CFS rating of ‘bb+’ and an Operating Environment Risk Anchor ( OPERA ) of ‘b+’, and incorporates CI’s assessment of BAE’s capacity to withstand sovereign-induced economic and financial stress. Although the ESL is Moderate, there is no uplift for the LT FCR as the latter is already at…