...Extremely High Probability of Support: Arab National Bank's (ANB) Issuer Default Ratings (IDRs) reflect an extremely high probability of support, if required, from the authorities in Saudi Arabia (AA-/Negative). This considers a strong (albeit declining) ability to provide support and a long history of banking-sector support in the kingdom. It also considers the bank's lower systemic importance than the larger banks and the shareholding of Arab Bank plc (BBB- /Negative), which could result in the sovereign's slightly lower willingness to support ANB. ANB's Viability Rating (VR) is highly influenced by the weakening operating environment in Saudi Arabia. It reflects the bank's solid domestic company profile as well as resilient profitability and asset-quality metrics. The recent downgrade of the VR reflects weakened financial metrics, in particular with respect to funding and liquidity. Some of the bank's financial metrics are also weaker than the highest-rated banks in the sector. Weakening...
