Housing Bank for Trade and Finance – 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 Housing Bank for Trade and Finance (HBTF or the Bank) at ‘BB-’ and ‘B’, respectively. At the same time, CI Ratings has affirmed HBTF’s Bank Standalone Rating (BSR) of ‘bb-’, Core Financial Strength (CFS) rating of ‘bbb-’ and Extraordinary Support Level (ESL) of Moderate. The Outlook on the LT FCR and BSR remains Stable.

The BSR is derived from a CFS rating of ‘bbb-’ and an Operating Environment Risk Anchor (OPERA) of ‘bb-’ (indicating moderate risk), and is constrained by Jordan’s sovereign ratings (‘BB-’/‘B’/Stable). CI’s ESL assessment does not result in any uplift for the Bank’s LT FCR because the BSR is already at the sovereign level. The likelihood of official extraordinary support in the event of need is deemed to be moderate. While CI believes the…