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KUWAIT - Moodys investor Service has affirmed Gulf Banks stable outlook and solid revenue-generating capacity in its recently published credit opinion issued on October 18th 2017. Moodys said that Gulf Banks standalone Base Line Credit Assessment rating reflects its solid revenue-generation capacity, comfortable liquidity metrics and adequate capitalization.
Moodys also affirmed Gulf Banks A3 long-term deposits rating and Stable outlook. This reflects the balance between adequate capital and provisioning buffers together with a reduction in problem loans. Said Moodys.
Moodys mentioned that Gulf Banks Base line credit assessment is supported by its strong macro profile. In addition, the problem loans levels have come down to 2.5 percent of gross loans and provision coverage is up to 331 percent at yearend 2016. Moodys added that Gulf Bank has a stable deposit base supported by comfortable liquidity buffers with a very high probability of government support in case of need Commenting on the Moodys credit opinion update, Dalal Al-Dousari, Gulf Banks Assistant General Manager of Investor Relations said: Gulf Bank continues to enjoy favorable ratings from the top international credit rating agencies. On October 18, 2017, Moodys Investors Service Affirmed the banks A3 long-term deposits rating and Stable outlook.
In addition Fitch Ratings has recently upgraded Gulf Banks viability rating from bb to bb+ and affirmed the banks Long-Term Issuer Default Rating at A+ with a Stable Outlook.
In June 2017, S&P Global Ratings revised their outlook on the Bank to Positive from Stable and affirmed its issuer credit rating at A-. Furthermore, Capital Intelligence also affirmed the Banks Financial Strength Rating at BBB+ and the subordinated bond rating at BBB both with Stable outlooks in May 2017.
Moodys also affirmed Gulf Banks A3 long-term deposits rating and Stable outlook. This reflects the balance between adequate capital and provisioning buffers together with a reduction in problem loans. Said Moodys.
Moodys mentioned that Gulf Banks Base line credit assessment is supported by its strong macro profile. In addition, the problem loans levels have come down to 2.5 percent of gross loans and provision coverage is up to 331 percent at yearend 2016. Moodys added that Gulf Bank has a stable deposit base supported by comfortable liquidity buffers with a very high probability of government support in case of need Commenting on the Moodys credit opinion update, Dalal Al-Dousari, Gulf Banks Assistant General Manager of Investor Relations said: Gulf Bank continues to enjoy favorable ratings from the top international credit rating agencies. On October 18, 2017, Moodys Investors Service Affirmed the banks A3 long-term deposits rating and Stable outlook.
In addition Fitch Ratings has recently upgraded Gulf Banks viability rating from bb to bb+ and affirmed the banks Long-Term Issuer Default Rating at A+ with a Stable Outlook.
In June 2017, S&P Global Ratings revised their outlook on the Bank to Positive from Stable and affirmed its issuer credit rating at A-. Furthermore, Capital Intelligence also affirmed the Banks Financial Strength Rating at BBB+ and the subordinated bond rating at BBB both with Stable outlooks in May 2017.
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