Fitch could cut Arab Bank Australia

Fitch Ratings said it placed Arab Bank Australia Ltd.'s long-term and short-term issuer default ratings and support rating on Rating Watch Negative.

Fitch said the watch on Arab Bank Australia's issuer default ratings and support rating reflects the July 11 placement of the bank's parent, Arab Bank plc, on Rating Watch Negative.

Arab Bank Australia's issuer default ratings would be downgraded if Arab Bank plc's issuer default ratings were downgraded, or if there were a change in Fitch's view of Arab Bank Australia's role as a core subsidiary of Arab Bank plc. Arab Bank Australia's Support Rating could also be downgraded as a result of a change in assumptions around the propensity or ability of Arab Bank plc to provide timely support to Arab Bank Australia.

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