Arab African 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 African International Bank (AAIB) to 'B' and 'b', respectively, from 'B+' and 'b+'. The change in the LT FCR and BSR 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

• Rating Announcement (CRA)
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