Capital Intelligence (CI), the international credit rating agency, announced that it has affirmed the Ratings of Amen Bank (Amen), based in Tunis, Tunisia.
Amen’s Long- and Short-Term Foreign Currency Ratings were maintained at ‘BB-‘ and ‘B’, respectively. The Financial Strength Rating (FSR) was affirmed at ‘BB-‘.
Ratings are supported by a currently adequate capital position. They are constrained by weak liquidity, and a high level of non-performing loans (NPLs).
However, all Ratings are maintained on a ‘Negative’ Outlook, due to the still significant challenges present in the operating environment, and possible deterioration in asset quality- which is particularly relevant to the FSR. The Support Rating is affirmed at ‘4’, reflecting a moderate level of support.