Middle East Economic Survey

VOL. LIII

No 23

7-Jun-2010

SAUDI ARABIA

S&P Raises Ratings On Three Saudi Banks

Standard & Poors Ratings Services (S&P) on 31 May raised to A+ from A its long term counterparty credit ratings on Saudi Arabias Al Rajhi Bank (ARB) and Samba Financial Group (Samba), and affirmed its A-1 short term counterparty credit ratings. The outlook on both banks is stable. The long term rating includes an uplift of one notch above the banks stand-alone credit profile....