Jordanian Banks’ Ratings Upgraded Following Similar Sovereign Action
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Summary
JO0 09 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 rating 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 indicated by the…