Bank of Baghdad - Ratings Affirmed and Withdrawn

Overview

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 Bank of Baghdad (BoB) at 'B' and 'B', respectively. The LT FCR Outlook is Stable. Concurrently, CI Ratings has affirmed BoB's Bank Standalone Rating (BSR) of 'b-' with a Stable Outlook, Core Financial Strength (CFS) rating of 'bb-', and Extraordinary Support Level (ESL) of Moderate. At the same time, CI Ratings has withdrawn the ratings assigned to BoB at the request of the Bank.

CI has also affirmed and withdrawn the Bank's Long- and Short-Term Ratings on the Iraq National Scale of 'iqA-' and 'iqA2', respectively, with a Stable Outlook.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.

Attachments

• Rating Announcement (CRA)
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