Moody’s raises ratings of three Jordanian banks

Moody’s Investors Service has raised the outlook on three Jordanian banks’ long-term foreign currency deposit ratings from ‘negative’ to ‘stable’.

This follows Moody’s earlier announcement, changing the outlook on Jordan’s sovereign ratings and country ceilings to stable from negative.

The affected banks are Arab Bank plc, with total assets of JOD 17.8 bln (USD 25 bln), Cairo Amman Bank with assets of JOD 1.2 bln (USD 1.7 bln) and The Housing Bank for Trade and Finance with assets of JOD 4 bln (USD 5.7 bln).

These banks’ existing ratings for financial strength and short-term deposits remain unaffected by this action, Moody’s said.