Al Rajhi Banking and Investment Corp oration – Ratings Affirmed
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Ref: SA 00 220 CRA00- 01 15 June 20 2 1
Al Rajhi Banking and Investment Corp oration – Ratings Affirmed
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long -Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Al Rajhi Banking and Investment Corporation (ARB) at ‘A+’ and ‘A1’ , respectively . The Outlook for the LT FCR is Negative , reflecting a similar outlook on the s overeign . At the same time, CI Ratings has affirmed ARB’s BSR of ‘a-’, with a Stable Outlook, C ore Financial Strength (CFS) rating of ‘a-’ , and E xtraordinary Support Level (ES L ) of High .
The Bank’s LT FCR is set two notches above the BSR to reflect the high likelihood of timely and appropriate extraordinary support from the government (Saudi Arabia Sovereign Rating: ‘A+’/’A1’/Negative) in case of need. Saudi banks are considered…