Riyad Bank’s Ratings Affirmed with a Stable Outlook
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Summary
Ref: SA 00819CRA00-01 28 July 2020
Riyad 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 Riyad Bank (RB) at ‘A + ’ and ‘A 1 ’, respectively . At the same time , CI Ratings has affirmed RB ’s B ank S tandalone R ating (BSR) of ‘ bbb+ ’, C ore F inancial S trength (CFS) rating of ‘ bbb+ ’ 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 three notches above the BSR to reflect the high likelihood of timely and sufficient extraordinary support from the government in case of need (s overeign ratings: ‘A+’/‘A1’/Stable). The Saudi banks are considered domestically important banks (D-SIBs) that play an important…