Moody's Investors Service has changed the outlook on three Jordanian banks' Ba3 long-term foreign currency deposit ratings to stable from negative. This action follows Moody's earlier announcement, changing the outlook on Jordan's sovereign ratings and country ceilings to stable from negative.
The affected banks are Arab Bank plc, Cairo Amman Bank and The Housing Bank for Trade and Finance. These banks' existing ratings for financial strength and short-term deposits remain unaffected by this action.
Arab Bank plc is headquartered in Amman and had total assets of JOD17.8 billion (US$25 billion) as at 30 September 2006.
Cairo Amman Bank is headquartered in Amman and had total assets amounting to JOD1.2 billion (USD1.7 billion) as at 30 September 2006.
The Housing Bank for Trade and Finance is headquartered in Amman and had total assets amounting to JOD4 billion (USD5.7 billion) as at 30 September 2006.
