Attijariwafa Bank – Ratings Affirmed

Ref: MA 00 1 2 2 CRA00- 01 27 July 202 3

Attijariwafa Bank – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating ( ST FCR ) of Attijariwafa Bank (AWB) at ‘BB+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed AWB ’s Bank Standalone Rating ( BSR ) at ‘bb’, and Core Financial Strength ( CFS ) rating at ‘bb+’. The Outlook for the LT FCR and BSR remains Stable.

The one-notch uplift of the LT FCR above the BSR reflects an ESL of High. This indicates the high likelihood of the Bank receiving extraordinary support from the Moroccan government in case of need. AWB has a leading market position in the Moroccan banking sector and is the largest bank by assets, together with controlling over one-quarter of the system’s…