Gulf International Bank - Outlook on LT FCR Revised to Stable Following Similar Sovereign Action

Overview

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on Gulf International Bank's (GIB) B.S.C. Long-Term Foreign Currency Rating (LT FCR) of 'A+' to Stable from Negative. This action follows the revision of the Outlook on Saudi Arabia's sovereign LT FCR of 'A+' to Stable, from Negative, to reflect improved prospects for the country's public finances as a result of the strong rebound in global oil prices over the past year and the implementation of fiscal consolidation measures.

Attachments

• Rating Announcement (CRA)
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