Gulf Bank’s Ratings Affirmed with a Stable Outlook
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Ref: KW00519 CRA00-1 14 Ju ly 20 20
Gulf Bank’s 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 Gulf Bank (GB) at ‘A+’ and ‘A1’, respectively . At the same time , CI Ratings has affirmed GB ’ s B ank S tandalone R ating (BSR) of ‘a-’ and Core Financial Strength (CFS) rating of ‘a-’ . The Outlook for the LT FCR and BSR is Stable.
The Bank’s LT FCR is set two notch es above the BSR to reflect the high likelihood of extraordinary su pport from the government (Sovereign Rating: ‘AA-’/‘A1+’/Stable ) in case of need due to the Bank’s systemic importance. T he government has a strong track record of providing assistance to banks and a state g uarantee on all deposits inside the country…