Bank of Alexandria – Ratings Affirmed with a Stable Outlook

Bank of Alexandria – Ratings Affirmed 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 (BoA) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed BoA ’s B ank S tandalone R ating ( BSR ) of ‘b+’, C ore Financial Strength ( CFS ) rating of ‘bb’ and E xtraordinary S upport L evel ( ESL ) of High. The Outlook for the LT FCR and BSR remains Stable.

The Bank’s BSR of ‘b+’ – which is derived from a CFS rating of ‘bb’ and an Operating Environment Risk Anchor ( OPERA ) of ‘b’ – remains at the same level as Egypt’s sovereign LT FCR of ‘B+’, and determines the Bank’s capacity to withstand sovereign-induced economic and financial stress. The CFS reflects the quality and consistency of the…