Ratings agencies gave a broadly upbeat assessment of the euro zone's creditworthiness yesterday, contrasting sharply with reviews of recent years and reflecting growing confidence in the region's fiscal and economic recovery.
Ratings agency Fitch cut its growth forecasts for Turkey for 2014 and 2015 on Friday, citing slower domestic lending growth and signs that consumer and investor confidence are moderating.
It now sees the economy expanding by 2.5 p
Fitch Ratings, a leading rating agency, has affirmed the Saudi British Bank’s (SABB) long term credit rating at “A” with a stable outlook.
The ratings affirmation and outlook revision reflects SABB’s financ
National Bank of Abu Dhabi (NBAD) and National Bank of Kuwait (NBK) have been ranked as the world’s safest banks for 2013 by Global Finance magazine from the Middle East and Africa region.
The others in the Top 10 list include Qat
Fitch Ratings has affirmed Gulf Investment Corporation's (GIC) long-term Issuer Default Rating (IDR) at 'BBB' with a stable outlook, a report said.
Fitch has also upgraded the Viability Rating (VR) to 'bb' from
DP World, the world's third-largest port operator, said Fitch Ratings has affirmed its long-term Issuer Default Rating (IDR) at 'BBB-' with a stable outlook.
Fitch has also affirmed the senior unsecured rating at 'BBB-
Fitch Ratings has affirmed National Bank of Kuwait's (NBK) long-term Issuer Default Rating (IDR) at ‘AA-’ with a stable outlook.
The ratings reflect NBK's dominant domestic franchise and significant internation
Fitch Ratings has affirmed National Bank of Bahrain's (NBB) long-term issuer default rating (IDR) at 'BBB' and viability rating (VR) at 'bbb'. The outlook on the long-term IDR is stable.
The ratings agency said
Fitch rating agency has affirmed Saudi Arabia's AA-minus rating but said the country could see an upgrade in coming months because of progress in handling social stressors and strengthened budget buffers.
Banks in the GCC region are looking to issue subordinated debt in the international markets, thanks to the sovereign support for these lenders which remains sufficiently strong, according to Fitch Ratings.
Fitch's ratings for