Fitch Ratings gives Angolan bank BAI rating of “B+”

29 April 2014

Fitch Ratings has given Angolan bank Banco Angolano de Investimentos (BAI), Angola’s largest bank by assets and deposits, a long-term credit rating in foreign currency of “B+”, the agency said.

According to Fitch Ratings’ system a rating of “B+” describes a highly speculative investment.

The agency also noted that the bank’s long-term outlook was “stable.”

According to the Fitch statement the rating reflects the limited likelihood of support from the Angolan authorities, although the willingness to support the bank may be high, taking into account BAI’s market position as one of the country’s main banks. (macauhub/AO)