Al Rajhi Banking and Investment Corporation – Ratings Affirmed with a Stable Outlook
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Ref: SA 002 19CRA00-01 21 July 2020
Al Rajhi Banking and Investment Corporation – Ratings Affirmed with a Stable Outlook
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 Corp oration ( ARB ) at ‘A + ’ and ‘A 1 ’, respectively . At the same time , CI Ratings has affirmed ARB ’s B ank S tandalone R ating (BSR) of ‘ a- ’, C ore F inancial S trength (CFS) rating of ‘ a -’ and E xtraordinary S upport L evel (ESL) of High. The Outlook for the LT FCR and BSR remain s 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 if needed. Saudi banks are considered as domestically important banks (D-SIBs), and play an…