Riyad Bank’s Ratings Affirmed
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Summary
Ref: SA 008 21 CRA00- 01 12 May 20 2 2
Riyad Bank’s 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 Riyad Bank (RB) at ‘A+’ and ‘A1’ , respectively . At the same time, CI Ratings has affirmed RB ’s B ank S tandalone R ating (BSR) of ‘bbb + ’ , C ore Financial Strength (CFS) rating of ‘bbb + ’ , and E xtraordinary Support Level (ES L ) of High . The Outlook for the LT FCR and BSR remains Stable.
The Bank’s LT FCR is set three notches above the BSR to reflect the high likelihood of timely and sufficient extraordinary support from the government in case of need (KSA sovere ign ratings: ‘A+’/‘A1’/Stable). Moreover, RB’s largest shareholder is the government, with an aggregate shareholding of around 43%. The Saudi banks are…