Union Bancaire pour le Commerce et l’Industrie – Ratings Affirmed with a Stable Outlook
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Summary
Ref: TN 0 10 1 9 CRA00- 01 4 Dec em ber 2020
Union Bancaire pour le Commerce et l’Industrie – Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) has affirmed the L ong-Term Foreign Currency Rating (LT FCR ) and Short-Term Foreign Currency (S T FCR ) of Union Bancaire pour le Commerce et l’Industrie ( UBCI ) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed UBCI’s Bank Standalone Rating ( BSR ) of ‘b + ’, Core Financial Strength ( CFS ) rating of ‘b b + ’ and Extraordinary Support Level ( ESL ) of High . The Outlook for the LT FCR and BSR remains Stable.
The Bank’s LT FCR is at the same level as the BSR and is constrained by CI’s internal assessment of sovereign credit risk for Tunisia. UBCI’s FCRs reflect its credit strengths of majority ownership by BNP Paribas (BNPP) which provides management and operational…