Tadhamon Bank – Long-Term Foreign Currency Rating Lowered

Overview

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has downgraded the Long-Term Foreign Currency Rating (LT FCR) of Tadhamon Bank (TB or the Bank) to 'C-' from 'C'. At the same time, CI Ratings has affirmed the Short-Term (ST) FCR at 'C'. The Outlook on the LT FCR has been revised to Stable from Negative. CI has affirmed TB's Bank Standalone Rating (BSR) of 'c', Core Financial Strength (CFS) rating of 'c+' and Extraordinary Support Level (ESL) of Uncertain. The Outlook for the BSR has also been revised to Stable from 'not meaningful'.

Attachments

• Rating Announcement (CRA)
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• Bank Rating Report (Yemen, Tadhamon Bank)
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