Union Bancaire pour le Commerce et l'Industrie - Ratings Lowered; LT FCR Outlook Remains Negative

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 Union Bancaire pour le Commerce et I'Industrie (UBCI) to 'C+' and 'C', respectively, from 'B-' and 'B'. The Outlook for the LT FCR remains Negative. At the same time, CI Ratings has lowered UBCI's Bank Standalone Rating (BSR) by one notch to 'c', from 'b-', and the Core Financial Strength (CFS) rating to 'b+' from 'bb-'. The Extraordinary Support Level (ESL) of Uncertain has been affirmed.

Attachments

• Rating Announcement (CRA)
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• Bank Rating Report (Tunisia, Union Bancaire pour le Commerce et l'Industrie)
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