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Fitch Rating affirms Al Hilal Bank’s IDR at 'A+'

Fitch Rating affirms Al Hilal Bank’s IDR at 'A+'
Fitch confirmed AHB’s viability rating (VR) at 'b+'
ADCB
ADCB
1.45% 8.40 0.12

UAE – Mubasher: The New York-based credit rating agency Fitch Ratings announced it has affirmed Al Hilal Bank's (AHB) long-term issuer default rating (IDR) at 'A+' with a stable outlook.

The agency has also confirmed AHB’s viability rating (VR) at 'b+', according to a press release.

Meanwhile, the bank’s short-term IDR has been maintained at 'F1' and its support rating (SR) has been maintained at '1', Fitch Rating said.

The American agency has also affirmed the trust certificate issuance programme of AHB Sukuk Company Limited, a subsidiary of the bank, at 'A+'/'F1' and confirmed its senior unsecured certificates at 'A+'.

“AHB's IDRs and SR reflect Fitch's view that AHB is a key and integral subsidiary of its 100% shareholder, Abu Dhabi Commercial Bank (ADCB),” the agency noted.

It is worth noting that Fitch previously affirmed ADCB’s IDR at A+ with a stable outlook.