GIB's $4 billion euro medium-term note programme rated 'BBB+/A-2'.Byline: firstname.lastname@example.org (Staff Writer)
The ratings on the program me (for senior notes) are equali s ed with the counterparty credit ratings on GIB See NIST binary. , reflecting our view that the notes will rank pari passu with GIB's other senior unsecured debt.
The ratings on GIB reflect the bank's strong ownership structure, adequate asset quality (although assets are geographically concentrated), and improved liquidity and capitali s ation following the sale of impaired and high-risk assets. The ratings on the bank are constrained by its weak profitability, reliance on short-term wholesale funding, and challenges regarding the bank's future strategy. The bank intends to amend its business model and improve its funding profile but has yet to demonstrate its ability to achieve this.
The long-term rating on GIB is two notches above the bank's stand-alone credit profile to reflect Standard & Poor's view that there is a moderately high likelihood of extraordinary government support from the Kingdom of Saudi Arabia (AA-/Stable/A-1+). Since the asset sale in March 2009, the Saudi Arabia Monetary Agency (SAMA sama
In Sufism, the practice of listening to music, chanting, and dancing as a means of producing a state of religious ecstasy and mystical trance. Practitioners hold that music prepares the soul for a deeper comprehension of divine realities and a better appreciation of , the central bank) and Public Investment Fund (PIF (Program Information File) A data file in Windows 3.x and NT that stores window settings for DOS applications. It allows screen size, fonts and other options to be selected in order to customize the way the DOS app appears under Windows. ), two public institutions in Saudi Arabia, together own a 98 per cent stake in GIB. We consider GIB as a government -related entity (GRE (Generic Routing Encapsulation) A tunneling protocol developed by Cisco that allows network layer packets to contain packets from a different protocol. It is widely used to tunnel protocols inside IP packets for virtual private networks (VPNs). ) under our methodology, whereas we classify Saudi Arabia as interventionist toward its banking sector.
2009 CPI Financial. All rights reserved.
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