Banque Centrale Populaire LT and ST FCR Raised ; All Other Ratings Affirmed
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Summary
Ref: MA 00 7 2 3 CRA00- 01 6 August 202 4
Banque Centrale Populaire LT and ST FCR Raised ; All Other Ratings Affirmed
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has raised the Long-Term Foreign Currency Rating ( LT FCR) and Short-Term Foreign Currency Rating ( ST FCR) of Banque Centrale Populaire ( BCP ) to ‘BBB-’ and ‘A3’ from ‘BB+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed the Bank’s BSR at ‘bb’, and the CFS rating at ‘bb+’. The Outlook for the LT FCR and BSR remains Stable. The upgrade of the LT FCR corrects an error in the application of CI’s notching guidelines for incorporating extraordinary support into issuer credit ratings. As ST issuer ratings are mapped from LT issuer ratings under CI’s approach, the ST FCR is also raised.
The two-notch uplift of the Bank’s LT FCR above the BSR (corrected from one…