Arab African International Bank's Long-Term and Short-Term Foreign Currency Ratings has been changed to 'BB+' and 'B' respectively, from 'BBB-'and 'A3' according to Capital Intelligence (CI), the international credit rating agency.

The Support Rating is accordingly adjusted to '3' from '2'. The Outlook for the Bank's 'BBB-'

Financial Strength Rating is also revised to 'Negative' from 'Stable'.

These actions follow the downgrade in Egypt's Sovereign Long-Term and Short-Term Foreign Currency Ratings to 'BB+' and 'B', respectively, from 'BBB-' and 'A3'. The Outlook for the Sovereign Ratings was changed to 'Negative' from 'Stable'.