Arab African International Bank – Ra tings Outlook Revised to Stable from Negative
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EG003 2 4 PBK 00-01 29 August 2 0 2 4
Arab African International Bank – Ra tings Outlook Revised to Stable from Negative
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on Arab African International Bank’s (AAIB) Long- T erm Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) to Stable from Negative . This follows CI Ratings’ recent revision of the outlook for Egypt’s sovereign rating to Stable from Negative.
At the same time , CI has affirmed AAIB’s LT FCR and BSR at ‘B’ and ‘ b ’, respectively . CI has also affirmed the Bank’s Short-Term (ST) FCR of ‘B’, Core Financial Strength (CFS) rating of ‘bb’, and Extraordinary Support Level (ESL) of High. Both the LT FCR and BSR are constrained by Egypt’s sovereign rating. AAIB does not meet our criteria for being rated above the sovereign g iven AAIB’s high …