Arab International Bank – Ratings Affirmed w ith a Stable Outlook
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Ref : EG004 23CRA00-01 12 November 2024
Arab International Bank – Ratings Affirmed w ith a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-term Foreign Currency Rating ( LT FCR ) and Bank Standalone Rating ( BSR ) of Arab International Bank (AIB) 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 Moderate. A IB ’s LT FCR is closely correlated with the sovereign’s creditworthiness. Any improvement or deterioration in Egypt’s LT FCR and/or outlook will ha ve a corresponding effect on A IB’s ratings and outlook.
Although we deem the Egyptian authorities’ willingness to provide support to be moderate in view of AIB’s significant government ownership, its financial capacity may…