United Bank Limited – Outlook Revised to Negative

United Bank Limited – Outlook Revised to Negative

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Long-Term Foreign Currency Rating ( LT FCR ) and Bank Standalone Rating ( BSR ) Outlook of United Bank Limited (UBL) to Negative from Stable. At the same time, CI R atings has affirmed t he Bank’s LT FCR and Short -Term Foreign Currency Rating ( ST FCR ) at ‘B-’ and ‘B’, respectively. UBL’s Bank Standalone Rating ( BSR ) of ‘b-’ and Core Financial Strength ( CFS ) rating of ‘bb-’ have also been affirmed.

The revision of the Outlook reflects a change in CI’s internal assessment of sovereign credit risk for Pakistan to indicate increased sovereign risk and the more challenging operating environment. Pakistan’s external vulnerabilities have increased, including the rapid depletion of foreign exchange reserves, and the high current account…