QNB A LAHLI – Ratings and Outlook Affirmed
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Summary
Ref: EG0262 3CRA00-01 8 Ma y 2024
QNB A LAHLI – Ratings and Outlook Affirmed
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long- T erm Foreign Currency Rating (LT FCR) and Short- T erm Foreign Currency R ating (ST FCR) of QNB ALAHLI S.A.E. (QNB AA) at ‘B’ and ‘B’, respectively. At the same time, CI Ratings has affirmed QNB AA ’s B ank Standalone Rating ( BSR) of ‘b’, C ore Financial Strength (C FS ) rating of ‘bb + ’ and E xtraordinary Support Level (ESL) of High. The Outlook for both the LT FCR and BSR remains Negative.
The Bank’s BSR is based on a CFS rating of ‘bb + ’ and an Operating Environment Risk Anchor ( OPERA ) of ‘b’ (indicating high risk) , and incorporates the Bank’s capacity to withstand sovereign-induced stress . Egypt’s OPERA reflects the challenging economic situation given very high inflation…