Arab International Bank – Ratings Outlook Revised to Stable from Negative
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Ref : EG004 2 4 PBK 00-0 2 29 August 2024
Arab International Bank – Ratings Outlook Revised to Stable from Negative
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on Arab International Bank’s (AIB ) Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) to Stable from Negative. This follows CI Ratings’ recent revision of the O utlook for Egypt ’s sovereign rating to Stable from Negative.
At the same time CI has affirmed AIB’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 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…