Moody's rates Arab National Bank note A2

Moody's Investors Service said it assigned an A2 foreign-currency debt rating to Saudi Arabia-based Arab National Bank's upcoming floating-rate subordinated notes due 2015, the first drawdown under its $850 million euro medium-term note program.

The outlook is stable.

Moody's said the rating reflects the bank's relative importance to Saudi Arabia's domestic financial system and the likelihood of potential support from the authorities in case of need, as well as the bank's intrinsic financial strength, given its C- financial strength rating.

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