Tadhamon Bank’s Ratings Affirmed with a Negative Outlook

Ref: YE 0 07 1 9 CRA00- 01 3 March 2021

Tadhamon Bank’s Ratings Affirmed with a Negative 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 Tadhamon Bank (TB), previously known as Tadhamon I nternational Islamic Bank , at ‘C’ and ‘C’, respectively. At the same time, CI Ratings has affirmed TB’s Bank Standalone Rating ( BSR ) of ‘c’ , Core Financial Strength (CFS) rating of ‘c+’ , and Extrao rdinary Support Level ( ESL ) of Uncertain . The Outlook for the LT FCR remains Negative. The Outlook for the BSR is no longer meaningful and has been removed as ‘c’ is the …