Amen Bank – Ratings Lowered ; LT FCR Outlook Re mains Negative
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Ref: TN 0 0 9 2 2 CRA00- 01 3 November 202 3
Amen Bank – Ratings Lowered ; LT FCR Outlook Re mains Negative
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has downgraded the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating ( ST FCR ) of Amen Bank ( Amen ) to ‘C + ’ and ‘C’, respectively, from ‘B – ’ and ‘B ’ . The Outlook for the LT FCR re mains Negative. At the same time, CI Ratings has lowered Amen ’s Bank Standalone Rating (BSR) by one notch to ‘ c ’ , from ‘b – ’ , and the Core Financial Strength (CFS) rating to ‘b + ’ , from ‘b b – ’ . Amen ’s Extraordinary Support Level (ESL) of Uncertain has been affirmed.
The change in Amen’s FCRs and BSR follows a lowering in CI’s internal assessment of sovereign risk for Tunisia and also reflects the more…