Fitch affirms Banque Saudi Fransi

Fitch Ratings said it affirmed Banque Saudi Fransi's long-term issuer default rating at A-.

The agency also affirmed the bank's viability rating and support rating floor at bbb+ and A-, respectively.

The outlook is stable.

Fitch said the stable outlook mirrors that on the sovereign rating as the probability of sovereign support drives the long-term issuer default rating,

The agency said its assessment takes into account a long track record of support for Saudi banks, continued government willingness to maintain stability in the domestic financial system and a strong ability to support the bank, given large external reserves and good access to external markets.

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