Attijari Bank Ratings Lowered ; Outlook Revised to Negative from Stable

Ref: TN 0 1 5 20 CRA00- 01 1 9 November 202 1

Attijari Bank Ratings Lowered ; Outlook Revised to Negative from Stable

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has downgraded the Long-Term Foreign Currency Rating (LT FCR) of Attijari Bank (AB) to ‘B’ from ‘B+’ and affirmed the Short-Term Foreign Currency Rating ( ST FCR ) at ‘B’. The Outlook for the LT FCR has been revised to Negative from Stable. At the same time, CI Ratings has lowered AB’s B ank S tandalone R ating (BSR) to ‘b’ from ‘b+’ and the C ore F inancial S trength (CFS) rating to ‘bb’ from ‘bb+’. T he BSR Outlook has also been revised to Negative from Stable. T he E xtraordinary Support Level (E SL ) of Moderate has been affirmed.

The change in AB’s LT FCR and BSR follows the recent lowering of CI’s internal assessment of sovereign credit risk for…