Bank of Alexandria – R atings A ffirmed with a Stable Outlook
Content is restricted
Summary
Ref : EG 00721 CRA00-01 24 November 2022
Bank of Alexandria – R atings A ffirmed with 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 Short-Term Foreign Currency Rating ( ST FCR ) of Bank of Alexandria (Alexbank) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed Alexbank’s Bank Standalone Rating ( BSR ) of ‘b+’, Core Financial Strength ( CFS ) rating of ‘bb’ and Extraordinary Support Level ( ESL ) of High. The Outlook for the LT FCR and BSR remains Stable.
The Bank’s BSR of ‘b+’ is derived from a CFS rating of ‘bb’ and an Operating Environment Risk Anchor ( OPERA ) of ‘b’. The ESL of High is based on Intesa Sanpaolo (ISP) ownership. CI considers that the Italian parent has the capacity and willingness to provide extraordinary support to the Bank…