Monday 29 December 2014
 
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GIC

Fitch affirms GIC rating with stable outlook

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

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GIC wins top award for sukuk

Gulf Investment Corporation (GIC) won the ‘Most Outstanding Sukuk Product’ award at the 8th Kuala Lumpur Islamic Finance Forum Islamic Finance Awards Ceremony 2011, held recently. The awards recognise and honour the significant efforts and

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GIC sells $255m sukuk in Malaysia

Kuwait-based Gulf Investment Corporation (GIC) has raised 750 million ringgit ($255 million) by selling five-year Islamic bonds at 4.90 percent, a source with direct knowledge of the deal said on Tuesday. The sukuk, which is part of a 3.5

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GIC fund’s H1 performance ‘consistent’

Gulf Investment Corporation (GIC) said that its fixed income fund Gulf Bond Fund has achieved a year-to-date return of 3.29 per cent, showing consistent performance in the first half of this year as against the same period of 2010. “The fu

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GIC launches $164m sukuk in Malaysia

Kuwait-based Gulf Investment Corporation (GIC) has launched a 500 million ringgit ($164 million) sukuk issue in Malaysia as part of an existing funding programme. GIC, which was set up to drive private enterprise and economic growth in the

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Moody’s upgrades GIC’s credit rating

Moody’s has upgraded the outlook on the credit of Kuwait-based Gulf Investment Corporation (GIC), a leading financial institution, to Stable from Negative, while reaffirming its Baa2 long term rating. This enhancement on GIC’s credit ratin

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Bahrain to begin testing Dur plant in April

Bahrain will start initial testing of its 1,240 megawatts Al Dur power and water plant in April, an official said in published remarks on Thursday. '(The initial testing) will include two gas turbines with a total capacity of up to 400

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Qatar, Singapore to underwrite $20bn Pru issue

Qatar Holding and Singapore's biggest sovereign wealth fund GIC have committed to underwrite a significant portion of UK Prudential's $20 billion rights issue. GIC is an existing shareholder, with a 0.5 percent stake in Prudential,

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Moody's downgrades Gulf Investment Corp

Moody's has downgraded Gulf Investment Corporation's (GIC) bank financial strength rating (BFSR) to D- from D. The D- rating now maps to a Baseline Credit Assessment (BCA) of 13, down from 12 (on a scale of 1 to 21, where 1 reflect

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GIC, GDF Suez ready $1.6bn for Bahrain project

Gulf Investment Corporation (GIC) and France's GDF Suez on Sunday said they have secured $1.6 billion funding for the Al Dur Independent Water and Power Producer (IWPP) project in Bahrain. The $2.1 billion Al Dur IWPP project is the la

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