Banque du Caire – Ratings Outlook Revised to Stable from Negative
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Ref: EG0082 4PBK 00-0 2 29 August 2024
Banque du Caire – Ratings Outlook Revised to Stable from Negative
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on Banque du Caire’s ( BdC ) Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) to Stable from Negative. This follows CI Ratings’ recent revision of the outlook for Egypt’s sovereign rating to Stable from Negative.
At the same time , CI Ratings has affirmed BdC’s LT FCR and BSR at ‘B’ and ‘b’, respectively. CI has also affirmed the Bank’s Short- T erm (ST) FCR of ‘B’, Core Financial Strength (CFS) rating of ‘bb- ’, and Extraordinary Support Level (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 have a corresponding effect on …