Published on 29 August 2012
RAM Ratings has reaffirmed the AAA(bg)/Stable/- long-term
rating of the medium-term notes (“MTN”) issued under ADCB Finance (Cayman)
Limited’s RM3.5 billion MTN Programme (2010/2030). The AAA(bg) rating reflects
the irrevocable and unconditional guarantee provided by Abu Dhabi Commercial
Bank PJSC (“ADCB”) on all amounts due under the MTN.
ADCB Cayman is wholly owned by ADCB, and is a funding
conduit for the latter. ADCB is a diversified commercial bank in the United
Arab Emirates (“UAE”), ranking third in terms of assets. The Government of Abu
Dhabi owns a 58.1%-stake in ADCB via the Abu Dhabi Investment Council. ADCB’s
ratings remain underpinned by its strong connection with the governments of
both Abu Dhabi and the UAE, as well as its superior capitalisation levels.
For further details on ADCB, please refer to the press
release, RAM Ratings reaffirms Abu Dhabi Commercial Bank’s AAA/P1 ratings,
published on 29 August 2012.
Media contact
Kwan Ji-Ling
(603) 7628 1115
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