QNB Ala hli – Ratings Affirmed with a Stable Outlook
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Ref: EG02620 CRA00- 01 9 November 20 2 1
QNB Ala hli – 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 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 S tandalone R ating (BSR) of ‘b + ’, C ore Financial Strength (CFS) rating of ‘bbb-’ , and E xtraordinary Support Level (ES L ) of High . The Outlook for the ratings remains Stable.
The Bank’s BSR is based on a CFS rating of ‘bbb-’ and an Operating Environment Risk Anchor ( OPERA ) of ‘b’. Egypt’s OPERA reflects the improved – although still high – sovereign risk profile of the country, as well as the adverse impact of Covid-19 on economic activity and credit conditions, government…