GIB notes get ‘A’ Fitch rating
Manama, April 24, 2010
Fitch Ratings has assigned Bahrain-based Gulf International Bank's (GIB) SR3.5 billion ($933 million) unsecured unsubordinated floating-rate notes due in April 2015 a long-term 'A' rating.
The issue was launched through the bank's Riyadh branch. The rating is in line with GIB's long-term issuer default rating (IDR) of 'A', which has a stable outlook. GIB's other ratings are short-term IDR 'F1', individual 'C/D', support '1' and support rating floor 'A'.
In Fitch's rating criteria, a bank's standalone risk is reflected in Fitch's individual ratings and the prospect of external support is reflected in Fitch's support ratings. – TradeArabia News Service
More Finance & Capital Market Stories
- GCC banks' outlook stable, says report
- GBSA panel names new chairperson
- NBK group CEO to step down
- SABB gets Fitch ratings boost
- Saudi SABB prices $400m sukuk issue
- Shuaa Capital gets Moody's ratings upgrade
- QInvest ‘advised on $3.5bn sukuk in 2013’
- Al Hilal Bank wins top Islamic finance award
- Barwa Bank wins top Islamic banking awards
- ‘BPO offers big benefits for Saudi economy’