Middle East Economic Survey

VOL. LIII

No 23

7-Jun-2010

SAUDI ARABIA

CI Downgrades Saudi Hollandi Banks Financial Strength Rating

Capital Intelligence (CI) announced on 1 June that it affirmed the foreign currency ratings of Saudi Hollandi Bank (SHB), based in Riyadh, Saudi Arabia. The long term rating is maintained at A and the short-term rating at A2. However, the banks financial strength rating is reduced to BBB+ from A-, while the outlook for all ratings is stable. In view of the banks position...