Banque Nationale Agricole – Ratings Lowered; Outlook Remains Negative

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Banque Nationale Agricole – Ratings Lowered; Outlook Remains Negative

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has downgraded the Long-Term Foreign Currency Rating (LT FCR) of Banque Nationale Agricole (BNA) to ‘B – ’ from ‘B’ and affirmed the Short-Term Foreign Currency Rating ( ST FCR) at ‘B’. At the same time, CI Ratings has lowered BNA’s Bank Standalone Rating (BSR) to ‘b – ’ from ‘b’ . The Outlook for the LT FCR and BSR remains Negative. The Bank’s Core Financial Strength (CFS) rating of ‘b+’ and Extraordinary Support Level (ESL) of Moderate have both been affirmed.

The change in BNA’s LT FCR and BSR follows a recent lowering in CI’s internal assessment of sovereign risk for Tunisia and also reflects the more challenging operating environment. The…