Saudi British Bank’s Ratings Affirmed with a Stable Outlook

Saudi British Bank’s Ratings Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Saudi British Bank (SABB) at ‘A’ and ‘A2’, respectively. At the same time, CI Ratings has affirmed SABB’s Bank Standalone Rating (BSR) of ‘bbb+’, Core Financial Strength (CFS) rating of ‘bbb+’ and Extraordinary Support Level (ESL) of High. The Outlook for the ratings 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 if needed. The authorities have a strong track record of supporting banks and have the financial capacity to provide assistance in the event of stress (the sovereign’s current ratings are ‘A+’/‘A1’/Stable).

The Bank’s BSR is based on a CFS rating of ‘bbb+’…