Fitch affirms Bank Aljazira

Fitch Ratings said it affirmed Bank Aljazira's long-term issuer default rating at A-, short-term issuer default rating at F2 and Aljazira Capital's long-term issuer default rating at A- and short-term issuer default rating at F2.

The outlook is stable.

The affirmation reflects the high probability of support the bank can expect to receive from the Saudi authorities, should it be required, Fitch said.

The rating also reflect its sound capitalization and developing franchise, the agency said, and the impact of Saudi Arabia's slower economic growth on the bank's asset quality and profitability.

© 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.