First Abu Dhabi Bank – Ratings Affirmed with a Stable Outlook

Ref: AE0 14 2 3 CRA00- 0 1 14 June 202 4

First Abu Dhabi Bank – Ratings Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed the Long-Term Foreign Curre ncy Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of First Abu Dhabi Bank (FAB) at ‘AA-’ and ‘A1+’ , respectively. At the same time, CI Ratings has affirmed FAB’s Bank Standa lone Ratin g (BSR) of ‘a-’ , Core Financial Strength (CFS) rating of ‘a-’, and Extraordinary Support Level (ESL) of Very High. The Outlook for all ratings is Stable .

The Bank’s LT FCR is set three notches above the BSR to reflect the very high likelihood of extraordinary support from the government in case of need. The UAE government (sovereign ratings: ‘AA-’/‘A1+’/Stable) has demonstrated its support in the past and, in CI’s view, has the means and willingness to continue to provide…