Saudi Investment Bank’s Ratings Affirmed
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Ref: SA 01 3 20 CRA00- 01 19 May 20 2 1
Saudi Investment 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 Saudi Investment Bank (SAIB) at ‘A-’ and ‘A2’ , respectively . The Outlook for the LT FCR is Negative. At the same time, CI Ratings has affirmed SAIB’s B ank S tandalone R ating (BSR) of ‘bbb’, with a Stable Outlook, C ore Financial Strength (CFS) rating of ‘bbb-’ , and E xtraordinary Support Level (ES L ) of High .
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 (KSA sovereign ratings: ‘A+’/‘A1’/Negative) in case of need. Moreover, SAIB’s largest shareholders are governmental, with an aggregate shareholding of over 30…