Askari Bank Limited - Ratings Downgraded

Overview

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has downgraded the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Askari Bank Limited (ABL) to 'C+' and 'C', respectively, from 'B-' and 'B'. At the same time, CI Ratings has lowered ABL's Bank Standalone Rating (BSR) by one notch to 'c', from 'b-', and Core Financial Strength (CFS) rating to 'b', from 'b+'. The Outlook for all ratings has been revised to Stable from Negative. The Extraordinary Support Level (ESL) remains Uncertain.

Attachments

• Rating Announcement (CRA)
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• Bank Rating Report (Pakistan, Askari Bank Limited)
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