Attijari Bank – Ratings Affirmed with a Stable Outlook

Ref: TN 015 1 9 CRA00- 01 8 Dec em ber 2020

Attijari Bank – Ratings Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) has affirmed the L ong-Term Foreign Currency Rating (LT FCR ) and Short-Term Foreign Currency Rating (S T FCR ) of Attijari Bank ( AB ) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed AB ’s B ank S tandalone R ating (BSR) of ‘b + ’, C ore F inancial S trength (CFS) rating of ‘b b + ’ and E xtraordinary Support Level (E SL ) of Moderate . The Outlook for the ratings remains Stable.

The Bank’s LT FCR is at the same level as the BSR , and is constrained by CI’s internal assessment of sovereign credit risk for Tunisia. Although ESL is assessed as Moderate , the assumption of parent support has not resulted in any rating uplift given the level of the BSR and our internal assessment of sovereign risk…