Amen Bank ’s Ratings Affirmed; Outlook Revised to Negative

Ref: TN 00 9 20 CRA00- 01 25 November 202 1

Amen Bank ’s Ratings Affirmed; Outlook Revised to Negative

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating ( ST FCR ) of Amen Bank ( Amen ) at ‘B’ and ‘B’, respectively. However, the Outlook for the LT FCR has been revised to Negative from Stable. At the same time, CI Ratings has affirmed Amen ’s Bank Standalone Rating (BSR) at ‘b’ but r evised the BSR Outlook to Negative from Stable. The Bank’s Core Financial Strength (CFS) of ‘bb-’ and Extraordinary Support Level (ESL) of Uncertain have both been affirmed.

The change in the Outlook for both the Bank’s LT FCR and BSR to Negative from Stable follows the recent lowering of CI’s internal assessment of sovereign credit risk for Tunisia and reflects…