Bank Al Jazira – Rating s Affirmed ; LT FCR Outlook Remains Positive

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Bank Al Jazira – Rating s Affirmed ; LT FCR Outlook Remains Positive

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 AlJazira (BAJ) at ‘A – ’ and ‘A 2 ’, respectively. The LT FCR Outlook remains Positive. At the same time, CI Ratings has affirmed B AJ ’s Bank Standalone Rating ( BSR) of ‘bbb’ with a Stable Outlook , Core Financial Strength ( CFS) rating of ‘bbb – ’ , and Extraordinary Support Level ( ESL) of High.

In January 2023, CI raised the LT FCR Outlook of BAJ to Positive from Stable. The change in the Bank’s O utlook mirrored an earlier similar action on Saudi Arabia’s sovereign ratings (‘A+’/‘A1’/Positive). The better economic performance for KSA is likely to have a positive effect…