Moody's may cut Arab Banking

Moody's Investors Service said it placed Arab Banking Corp. BSC's A3/Prime-2 foreign currency deposit rating and D+ bank financial strength rating on review for possible downgrade.

The review follows the change in the bank's ownership structure after Abu Dhabi Investment Authority's sale of its 17.72% stake in the company to the Central Bank of Libya.

The current deposit rating is based on the company's standalone financial strength, shareholders' very high willingness to provide support in case of need and the high capacity of the sovereign shareholders to provide support, Moody's said.

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