GulfBase Live Support
12/11/2010 00:00 AST
Fitch Ratings has affirmed Ahli United Bank's (AUB) ratings at long-term Issuer Default (IDR) A- with stable outlook and short-term IDR F2.
The support rating floor is affirmed at A-.
The long and short-term IDRs and support rating reflect the extremely high probability of support for AUB from its core shareholders, if needed.
Downside risk to the IDRs is limited due to expected shareholder support, if needed.
AUB was formed in 2000 through the merger of two banks based in the UK and Bahrain.
It subsequently acquired stakes in banks in Kuwait, Qatar, Iraq, Egypt, Oman and Libya.
It is also present in other Gulf and Middle Eastern countries through its brokerage subsidiary based in Kuwait.
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