Commercial Bank of Iraq – Ratings Assigned

Ref: IQ0 3 1 21C RA00-02 7 February 2 0 23

Commercial Bank of Iraq – Ratings Assigned

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has assigned a first-time L ong- Term F oreign C urrency R ating (LT FCR) and S hort- T erm F oreign C urrency R ating (ST FCR) to Commercial Bank of Iraq (CBIQ) of ‘B’ and ‘B’, respectively. The LT FCR Outlook is Stable. At the same time, CI Rat ings has assigned to CBIQ a Bank Standalone Rating (BSR) of ‘b-’ with a Stable Outlook, a Core Financial Strength (CFS) rating of ‘b+’, and an Extraordinary Support L evel (ESL) of High.

CI has also assigned CBIQ Long- and Short-Term Ratings on the Iraq National Scale of ‘iqA-’ and ‘iqA2’, respectively, with a Stable Outlook. These are supported and constrained by the same factors as the CFS as outlined below.

CBIQ’s LT FCR is set one notch above the BSR to underscore the…