QNB A LAHLI – Ratings and Negative Outlook Affirmed
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Summary
Ref: EG0262 2 C RA00- 01 28 August 2023
QNB A LAHLI – Ratings and Negative Outlook Affirmed
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong- Term F oreign Currency Rating (LT FCR) and S hort-T erm F oreign Currency Rating (ST FCR) of QNB ALAHLI S.A.E . (QNB AA) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed the Bank’s Bank Standalone Rating ( BSR ) of ‘b+’, Core Financial Strength ( CFS ) rating of ‘bbb-’ and Extraordinary Support Level ( ESL ) of High. The Outlook for the LT FCR and BSR remains Negative .
The BSR is based on a CFS rating of ‘bbb-’ and an O perating Environment Risk Anchor (OPERA) of ‘b’ and incorporates the Bank’s capacity to withstand sovereign-induced stress. Egypt’s OPERA reflects the high and rising sovereign risk profile of the country, as well as the adverse impact of…