Fitch Ratings has affirmed Ahli United Bank's (AUB) ratings at Long-term Issuer Default (IDR) ‘A-' (A minus) with Stable Outlook, Short-term IDR ‘F2', Individual ‘B/C' and Support ‘1'. The Support Rating Floor is affirmed at ‘A-' (A minus). The Long- and Short-term IDRs and Support rating reflect the extremely high probability of support for AUB from its core shareholders, in case of need. Its Individual rating reflects the bank's expanding franchise, healthy profit growth, sound liquidity and asset quality, and diversified funding. Tier 1 capital ratio (8.8 percent at end-2007 in accordance with Basel II) is modest by regional standards, but reflects the bank's view of maintaining a mix of Tier 1 and Tier 2 capital. The Fitch eligible capital ratio, which includes equity credit for the bank's hybrid capital, stood at a more comfortable 11.9 percent.
