Wednesday, August 17, 2011

RAM Ratings reaffirms AAA(bg) rating of ADCB Cayman's RM3.5 billion debt facility



Published on 15 August 2011
RAM Ratings has reaffirmed the AAA(bg) rating of ADCB Finance (Cayman) Limited’s (ADCB Cayman) RM3.5 billion Medium-Term Notes Programme (MTN Programme); the long-term rating has a stable outlook. The AAA(bg) rating of ADCB Cayman’s MTN Programme reflects the strength of the irrevocable and unconditional guarantee provided by ADCB on all amounts due under the medium-term notes.



ADCB Cayman is wholly owned by ADCB and is a funding conduit for the latter. ADCB is a diversified full-service bank in the United Arab Emirates (UAE), ranking the third-largest in terms of assets. The Government of Abu Dhabi owns a 58.1%-stake in the Bank via Abu Dhabi Investment Council. ADCB’s ratings remain underpinned by its strong connection to the governments of both Abu Dhabi and the UAE, coupled with its superior capitalisation position.

For more on ADCB, please refer to the press release “RAM Ratings reaffirms Abu Dhabi Commercial Bank’s AAA/P1 ratings”, published on 15 August 2011.

Media contact
Shankar Jayanathan
(603) 7628 1030
shankar@ram.com.my

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