Morocco: Moody's withdraws Attijariwafa Bank's ratings
Moody's Investors Service today withdrawn all the ratings of Morocco-based Attijariwafa bank. The rating agency's decision to withdraw the bank's ratings was driven by business reasons and not linked to any credit issue.
The following ratings are being withdrawn:
1. Bank Financial Strength Rating (BFSR): D+
2. Local Currency Deposit Rating (long term): Baa2
3. Local Currency Deposit Rating (short term): Prime-2
4. Foreign Currency Deposit Rating (long term): Ba2
5. Foreign Currency Deposit Rating (short term): Not Prime
6. Outlook (on all ratings): Stable
At the time of the withdrawal, Attijariwafa bank had no outstanding debt rated by Moody's.
Attijariwafa bank is based in Morocco. Its total assets amounted to MAD297.7 billion (USD36.0 billion) at 30 June 2010.
- Qatar expansion driving down credit growth - Barclays
- 7% of Emaratis had to deal with a false positive with their bank - survey
- Trade between 18 Arab countries hikes to $2.1 trillion - IMF
- Allocating more funds to SWF would improve Saudi wealth returns
- Sovereign wealth funds in GCC focus more on local investments