Correction: Attijariwafa Bank’s LT and ST FCR Raised; All Other Ratings Affirmed

Overview

(This announcement replaces the version published on 26 July 2024 and corrects an error in the application of CI's bank rating criteria.)

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has raised the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Attijariwafa Bank (AWB) to 'BBB-' and 'A3' from 'BB+' and 'B', respectively. At the same time, CI Ratings has affirmed the Bank's BSR at 'bb', and the CFS rating at 'bb+'. The Outlook for the LT FCR and BSR remains Stable. The upgrade of the LT FCR corrects an error in the application of CI's notching guidelines for incorporating extraordinary support into issuer credit ratings. As ST issuer ratings are mapped from LT issuer ratings under CI's approach, the ST FCR is also raised.

Attachments

• Rating Announcement (CRA)
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