S&P affirms Bank Audi

S&P said it affirmed its B-/B long- and short-term issuer credit ratings on Lebanon-based Bank Audi SAL. The outlook is stable.

“We believe that Bank Audi's operating environment has deteriorated over recent months. Credit risk in Turkey has risen owing to pressure from the depreciating lira on dollar-denominated exposures,” S&P said in a news release.

“At the same time, we believe that Bank Audi is able to withstand the pressure from its Turkish exposures.”

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