BMCI Bank’s Ratings Affirmed with a Stable Outlook
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Ref: MA 0 0 6 1 9 CRA00- 01 2 September 2020
BMCI Bank’s Ratings Affirmed with a Stable Outlook
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 ‘BBB-’ and ‘A3’ , respectively. At th e same time, CI Ratings has affirmed BMCI ’s Bank Standalone Rating ( BSR ) and Core Financial Strength ( CFS ) rating at ‘bb’ . The Outlook for the LT FCR and BSR is Stable.
The Bank’s LT FCR incorporates two notches of uplift above its BSR and is constrained by CI’s internal assessment of sovereign credit risk for Morocco. The uplift reflects our assessment of the high likelihood of extraordinary support, if needed, from the Bank’s strong majority shareholder, France’s BNP…