VOL. XLVII

No 01

5-January-2004

RATINGS

Moodys Raises ANBs Financial Strength Rating To C-

Ratings agency Moodys on 24 December raised the financial strength rating for Saudi Arabias Arab National Bank (ANB) to C- from D+. The banks foreign currency deposit ratings remain unchanged, set at the Baa2/Prime-2 country ceilings, and have stable outlook. The upgrade reflects the banks strengthened core earning power, improved asset quality position and growing business franchise, noted Moodys. Since its...