VOL. XLIII

No. 31

30-July-2000

SAUDI ARABIA

Moodys Revises Riyad Banks Financial Strength Rating

Moodys has raised Riyad Banks financial strength rating from D to D+, according to a press statement from the ratings agency on 24 July, while keeping the Saudi banks deposit ratings unchanged at the Baa3/Prime-3 country ceiling for foreign currency deposits. Moodys said that the rating upgrade reflected the improvements made over the last few years in the banks asset quality, the upgrading of its...