VOL.XXXIXNo.65/66

23/30-December-1996MOROCCO

CapitalIntelligence Upgrades Rating For Moroccan Bank...The Cyprus-based ratings agency Capital Intelligence has raised the long-termrating of Banque Commerciale du Maroc (BCM) to BBB+ from BBB. Theshort-term rating was reaffirmed at A-2. BCM is Morocco's third largestbank asset-wise. It is 20% owned by each of the Madrid-basedBanco Central Hispano Americano and Omnium Nord Africaingroup. Capital Intelligence said in an official statement that...