Middle East Economic Survey


No 30



CI Raises Rating On NCB Two Notches To A

Ratings agency Capital Intelligence (CI) on 21 July raised the financial strength rating of The National Commercial Bank of Saudi Arabia (NCB) two notches from BBB+ to A. The banks long-term foreign currency rating of A- and its short-term foreign currency rating of A2 were both affirmed, and remain in line with the long-term sovereign rating of Saudi Arabia. The agency noted strong...