Banque Nationale Agricole – Ratings Affirmed

Ref: TN 0 1 4 2 3 CRA00- 01 17 Octob er 202 4

Banque Nationale Agricole – 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 Nationale Agricole (BNA) at ‘C + ’ and ‘C’, respectively . The Outlook for the LT FCR re mains Negative. At the same time, CI Ratings has affirmed BNA’s Bank Standalone Rating (BSR) of ‘ c ’ , Core Financial Strength (CFS) rating of ‘b’ and Extraordinary Support Level (ESL) of Modera te .

BNA’s LT FCR is constrained by CI’s internal assessment of sovereign credit risk for Tunisia. The N egative Outlook for BNA’s FCRs is in line with CI’s internal assessment of sovereign risk for Tunisia, reflecting the continued very challenging operating environment…