Fitch affirms Arab Banking

Fitch Ratings said it affirmed Arab Banking Corp.'s long-term foreign-currency issuer default rating at BBB+, along with its short-term foreign-currency issuer default rating at F2, senior unsecured debt at BBB+ and subordinated debt at BBB.

The ratings reflect the agency's belief that there would be a high probability of support from its main shareholders if needed, given their commitment to recent past and future rights issues, Fitch said.

The ratings also consider concerns about the company's prospects in a challenging operating environment, the agency said.

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