Saudi Investment Bank’s – Ratings Affirmed
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Ref: SA01322CRA00-01 4 May 2023
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 ‘A 2 ’, respectively. At the same tim e, CI Ratings has affirmed SAIB’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 LT FCR and BSR remains Positive and Stable, respectively .
In January 2023, CI raised the LT FCR Outlook of SAIB to Positive from Stable. The p ositive outlook mirrored a similar action on Saudi Arabia’s sovereign ratings (‘A+’/‘A1’/Positive) in December 2022.
SAIB’s LT FCR is currently set two notches above the BSR to reflect the high likelihood of timely and appropriate…