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Banque Tuniso - Koweitienne Jun 09
Standard & Poors, June 2009
Abstract
Expected shareholder support Adequate capitalization Clear strategy and capable management Poor funding and liquidity profile Still weak asset quality and very rapid loan growth High concentration The rating on Banque Tuniso - Kowe-tienne (BTK) reflects the bank's poor funding and liquidity profile, still weak asset quality, and very rapid loan growth, as well as high, although declining, concentration in the tourism sector. Partly counterbalancing these negative factors are expected shareholder support, as well as BTK's good capitalization, clear strategy, and capable management. The rating on BTK is two notches above the bank's stand-alone credit profile reflecting the high likelihood of extraordinary support from the bank's majority shareholder, Groupe Caisse d'Epargne (GCE), the central body of which, Caisse Nationale des Caisses...
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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