Home News & Press Releases Arab International Bank - Ratings Adjusted Following Lowering of Egypt...
News & Credit Rating Announcements
12 September 2023 | Country: Egypt | Bank: Arab International Bank
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Arab International Bank - Ratings Adjusted Following Lowering of Egypt Sovereign Rating
Overview
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has lowered the Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) of Arab International Bank (AIB) to 'B' and 'b', respectively, from 'B+' and 'b+'. The change in the LT FCR follows a recent similar rating action on Egypt's sovereign rating ('B'/'B'/Stable) on 1 September 2023, reflecting the increase in Egypt's external financing risks due to the country's high external financing needs and risks to the sufficiency and timeliness of financing inflows.
Attachments
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Rating Announcement (CRA)
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