Credit du Maroc - Ratings Lowered; Outlook Revised to Stable

Overview

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has lowered the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Crédit du Maroc (CM) to 'BB+' and 'B', respectively, from 'BBB-' and 'A3'. The Outlook for the LT FCR has been revised to Stable from Negative. At the same time, CI Ratings has lowered both CM's Bank Standalone Rating (BSR) and Core Financial Strength (CFS) rating to 'bb' from 'bb+'. The Outlook for the BSR has also been revised to Stable from Negative. The Extraordinary Support Level (ESL) has been maintained at Moderate.

Attachments

• Rating Announcement (CRA)
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• Bank Rating Report (Morocco, Credit du Maroc)
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