BLOM Bank - FCRs Affirmed at 'SD'; CFS Lowered to 'c+'

Overview

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has lowered the Core Financial Strength (CFS) rating of BLOM Bank SAL (BLOM) to 'c+' from 'b-'. At the same time, CI Ratings has affirmed the Bank's Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) at 'SD' (selective default).

BLOM's FCRs reflect the restrictions applied by all Lebanese banks on the withdrawal of deposits and, in particular, the imposition of adverse changes in the terms and conditions of certain types of foreign currency deposits.

Attachments

• Rating Announcement (CRA)
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• Bank Rating Report (Lebanon, BLOM Bank SAL)
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