Cairo Amman Bank’s Ratings Affirmed

Ref: JO006 19 CRA00- 0 1 1 0 th December 20 20

Cairo Amman Bank’s 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 Cairo Amman Bank (CAB) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed CAB’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 is Stable.

The ESL assessment does not result in any uplift for the Bank’s LT FCR because the BSR is already at the sovereign level (‘B+’/ ‘B’/ Stable). The likelihood of extraordinary support in the event of need is deemed to be moderate. While CI believes the willingness of the government to provide support remains high, there is some…