Capital Bank of 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 Capital Bank of Jordan (CAP) at ‘BB-’ and ‘B’, respectively. The LT FCR Outlook remains Stable. At the same time, CI Ratings has affirmed CAP’s Bank Standalone Rating (BSR) of ‘bb-’ with a Stable Outlook, Core Financial Strength (CFS) rating of ‘bb’ and Extraordinary Support Level (ESL) of Moderate.

The BSR is derived from a CFS rating of ‘bb’ and an Operating Environment Risk Anchor (OPERA) of ‘bb-’ (indicating moderate risk). While CAP’s ESL is Moderate, there is no uplift for the BSR as the latter is already at Jordan’s sovereign LT FCR level (‘BB-’/ Stable).

CAP’s CFS is supported by strong consolidated profitability, driven by high levels of fee and commission income at National Bank of Iraq (NBI), its Iraqi subsidiary. Additional strengths include solid…