Fitch revises Arab Banking Corp. view to stable

Fitch Ratings said it revised Arab Banking Corp.'s outlook to stable from negative, while affirming the long-term issuer default rating at BB+

“The revision of the outlook reflects Fitch's view that ABC's asset quality and capitalization are likely to absorb, at the current rating level, the risk of low and volatile oil prices and the coronavirus pandemic resulting in further deterioration of the bank's operating environment (especially the Brazilian and Arab markets, including the Gulf Cooperation Council countries),” Fitch said in a press release.

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