Banque du Caire – Ratings Affirmed
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Summary
Ref: EG0082 3CRA 00-0 1 2 2 October 2024
Banque du Caire – Ratings Affirmed
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long- T erm Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) of Banque du Caire (BdC) at ‘B’ and ‘b’ respectively. The Outlook for the LT FCR and BSR has been affirmed at Stable. At the same time, CI Ratings has affirmed BdC’s S hort- T erm FCR (ST FCR) of ‘B’, Core Financial Strength ( CFS ) rating of ‘bb – ’ and Extraordinary Support L evel ( ESL ) of Moderate.
BdC’s LT FCR is closely correlated with the sovereign’s creditworthiness. Any improvement or deterioration in Egypt’s LT FCR and/or outlook will therefore have a corresponding effect on BdC’s ratings and outlook.
The Bank’s BSR of ‘b’ is derived from a CFS rating of ‘bb-’ and an Operating Environment Risk Anchor (OPERA) of…