VOL. XLIV

No. 28

9-July-2001

BANKING

Fitch IBCA Affirms GIBs BBB+ Rating

International ratings agency Fitch IBCA announced on 28 June that it had affirmed the long-term BBB+ and short-term F2, individual C and 3 support ratings of Gulf International Bank (GIB). According to a statement issued by the agency, the move follows the removal of the banks majority shareholder, Gulf International Corporation (GIC), from the banks ownership structure. The agency notes that GICs former 72.5% stake is now...