Jordanian Banks’ Ratings Upgraded Following Similar Sovereign Action
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Summary
JO0 18 24PBK00-01 2 July 202 4
Jordanian Banks’ Ratings Upgraded Following Similar Sovereign Action
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has upgraded [number to be inserted later] Jordanian banks’ Long-Term Foreign Currency Ratings (LT FCRs) and Bank Standalone Ratings (BSRs). The Outlook on the LT FCRs and BSRs of these banks is Stable.
[Paragraphs identifying other banks redacted until publication]
The ratings actions have been prompted by the recent upgrade of Jordan’s long-term sovereign issuer credit ratings to ‘BB-’ from ‘B+’ and an improvement in the Operating Environment Risk Anchor (OPERA) for the banking system to ‘bb-’ from ‘b+’. The improving operating environment is expected to contribute to greater standalone strength for rated banks, while the constraints imposed by sovereign credit and interference risk have eased slightly, as…