Business Services Industry
MOODY'S REVISES RATINGS OUTLOOK FOR ARAB BANK AUSTRALIA TO POSITIVE
Info-Prod Research (Middle East), October, 2003
Moody's revised the outlook for the Baa2 long-term deposit rating and the Baa3 issuer rating of Arab Bank Australia (ABA) to positive. The action followed the positive outlook assigned to the foreign branch ratings of ABA's parent, Arab Bank plc. ABA's long-term deposit and issuer ratings reflect the bank's strong relationship with its parent Arab Bank plc, which is headquartered in Jordan.
ABA still sources a significant portion of its funding from Arab Bank plc's foreign branches to support its growing operations. We also believe that ABA could count on further support from its parent, if required, as it has built a successful niche franchise - which has considerable opportunities for further growth before a change of strategic direction is required. Moreover, ABA's...
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