Fitch rates Gulf General BBB

Fitch Ratings said it assigned Gulf General Investment Co.'s long-term issuer default rating and senior unsecured rating of BBB.

The outlook is stable.

The ratings are supported by the company's diversification of operations, as well as by its conservative risk management, Fitch said. The ratings also reflect its conservative financial profile in relation to its mix of business activity, the agency added.

The ratings are limited by the business risk inherent within residential development, securities trading and industrial operations. The ratings also are restricted by the group's history of negative free cash flow, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.