...Support Drives Ratings: Attijariw afa Bank's (AWB) ratings are driven by a moderate probability of support from the Moroccan sovereign (BBB-/Stable). The Stable Outlook on the Long-Term Issuer Default Rating (IDR) reflects the Outlook on the sovereign Rating. Fitch Ratings believes the authorities have a high propensity to support AWB, w hich is a leading, privately ow ned Moroccan bank. AWB controls a share of around 27% of Moroccan loans and deposits. We regard AWB as a domestic systemically important bank (D-SIB). Weak Operating Environm ent: The operating environment for AWB is w eaker than the operating environment for banks operating exclusively in Morocco. This is because 24% of consolidated assets and 37% of net income in 1H18 relate to business and risk exposures in countries that are less developed than AWB's home market. The operating environment score is a constraining factor for the Viability Rating (VR). Strong Dom estic Franchise: AWB is Morocco's leading corporate bank and...
