Union Bancaire pour le Commerce et l'Industrie - Ratings Lowered; 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) of Union Bancaire pour le Commerce et I'Industrie (UBCI) to 'B-' from 'B', and affirmed the Short-Term Foreign Currency Rating (ST FCR) at 'B'. At the same time, CI Ratings has lowered UBCI's Bank Standalone Rating (BSR) to 'b-' from 'b'. The Outlook for the LT FCR and BSR remains Negative. The Bank's Core Financial Strength (CFS) rating of 'bb-' and Extraordinary Support Level (ESL) of Uncertain have also 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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