Credit Libanais’ financial strength rating affirmed

Capital Intelligence (CI) has affirmed Credit Libanais’ financial rating at “BB+”. The agency said the financial strength rating reflects the bank's good capital adequacy, improving asset quality, and comfortable liquidity. The financial strength rating is constrained by Credit Libanais' high exposure to Lebanese sovereign debt, as well as the bank's high concentration to housing loans and by its low operating profitability.

But the agency said that ratings would be reviewed in case there are changes in the bank's shareholder base. EFG Hermes CL Holding has a majority share in the bank's capital.