Credit rating agency Moody's has issued revised financial soundness assessments for four Moroccan banks, although the new ratings reflect an altered evaluation system rather than actual changes in bank soundness, Upline Securities reported.
The Banque Commerciale du Maroc (BCM) rating moves from D+ to C-, the Banque Marocaine du Commerce Extérieur (BMCE) moves from D to D+, with prospects revised from positive to stable, Crédit du Maroc receives a D+ rating, and Wafabank maintains its previous D+ rating, with prospects revised from negative to stable, it said.
The new 13-grade scale from A through E replaces the previous nine-grade scale that did not include negative gradations such as A- or B-. – Albawaba.com
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