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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




Tags: Fitch | Gulf International Bank | Ratings | Manama | Notes |

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