Commercial Bank of Iraq – Ratings Affirmed ; CFS Raised

Ref: IQ0 3 1 2 2 C RA00-0 1 7 February 2 0 2 4

Commercial Bank of Iraq – Ratings Affirmed ; CFS Raised

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Commercial Bank of Iraq ’s ( CBIQ ) L ong – T erm Foreign Currency Rating (LT FCR ) and S hort-Term Foreign Currency Rating (ST FCR ) of ‘B’ and ‘B’, respectively. The LT FCR Outlook is Stable. CI Ratings has also affirmed CBIQ’s Bank Standalone Rating ( BSR ) of ‘b-’ with a Stable Outlook, and the E xtraordinary Support Level (E SL ) of High. CBIQ ’s Core Financial Strength ( CFS ) rating has however been raised to ‘b b- ’ from ‘b + ’ .

At the same time, CI has affirmed CBIQ’s Long- and Short-Term Ratings on the Iraq National Scale of ‘iqA-’ and ‘iqA2’, respectively, with a Stable Outlook. These ratings are supported and constrained by the same factors as…