QNB A LAHLI – Ratings Outlook Revised to Stable from Negative
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Ref: EG0262 4 PBK 00- 0 2 29 August 2024
QNB A LAHLI – Ratings Outlook Revised to Stable from Negative
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on QNB ALAHLI S.A.E.’s (QNB AA) Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) to Stable from Negative. This follows CI Ratings’ recent revision of the outlook for Egypt’s sovereign rating to Stable from Negative.
At the same time , CI Ratings has affirmed QNB AA’s LT FCR and BSR at ‘B’ and ‘b’, respectively . CI has also affirmed the Bank’s Short-Term (ST) FCR of ‘B’, Core Financial Strength ( CFS ) rating of ‘bb+’, and Extraordinary Support Level ( ESL ) of High. Although the ESL is set at High, and while CI believes the parent QNB would have the willingness and ability to provide a high degree of extraordinary liquidity and capital support…