Moody's assigns B1 (hyb) rating to ADIB’s certificates issuer

Abu Dhabi – Mubasher: Moody's Investors Service has assigned a B1 (hyb) rating to a proposed USD-denominated, perpetual, non-cumulative additional Tier 1 (AT1) capital certificates to be issued by ADIB Capital Invest 2.

The new certificates represent direct, unconditional, subordinated, and unsecured obligations of the Abu Dhabi Islamic Bank (ADIB), Moody's said in a statement.

“The positioning of the B1 (hyb) rating at three notches below ADIB's ba1 BCA and Adjusted BCA, captures the probability of impairment associated with mandatory and/or discretionary coupon suspension on a non-cumulative 

Earlier in August, ADIB hired a number of global banks to arrange the sale of sukuk worth $750 million.

Mubasher Contribution Time: 30-Aug-2018 12:28 (GMT)
Mubasher Last Update Time: 30-Aug-2018 12:33 (GMT)