Banque Marocaine pour le Commerce et l’Industrie – Ratings Affirmed
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Ref: MA 00 6 2 2 CRA00- 01 31 August 202 3
Banque Marocaine pour le Commerce et l’Industrie – Ratings Affirmed
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 Banque Marocaine pour le Commerce et l’Industrie (BMCI) at ‘BB B- ’ and ‘ A3 ’, respectively. At the same time, CI Ratings has affirmed BMCI’s Bank Standalone Rating ( BSR ) of ‘bb’, Core Financial Strength ( CFS ) of ‘bb’ and Extrao r dinary Support Level (ESL) of High . The Outlook for the LT FCR and BSR is Stable.
BMCI’s LT FCR incorporates two notches of uplift above its BSR. The uplift reflects our assessment of the high likelihood of extraordinary support, if needed, from the Bank’s strong majority shareholder, France’s BNP Paribas (BNPP). CI…