Al Rajhi Banking and Investment Corporation – Ratings Affirmed
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Ref: SA 00 221 CRA00- 01 17 May 20 2 2
Al Rajhi Banking and Investment Corporation – 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. At the same time, CI Ratings has affirmed ARB’s Bank Standalone Rating (BSR) of ‘a-’, Core Financial Strength (CFS) rating of ‘a-’ and Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR and BSR remains Stable.
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 (KSA sovereign ratings: ‘A+’/‘A1’/Stable). The Saudi banks are considered systemically important banks that play an important role in building and nurturing the…