Gulf Finance House rating raised by Capital Intelligence

Press release

Published August 31st, 2014 - 12:23 GMT

Al Bawaba

GFH would like to advise its shareholders and the markets that Capital Intelligence (CI), the international credit rating agency, has raised the Bank's Long-Term Rating to 'BB' from 'BB-' and affirmed the Short-Term Rating at 'B'. The Outlook for GFH's ratings reverts to 'Stable' from 'Positive' following the rating action.

According to CI, the new ratings reflect a number of positive factors and progress at the Bank. As cited in the report, these include the recent successful refinancing and resultant extended debt repayment period. Also supporting the ratings is the significant reduction in leverage, with the Bank having successfully paid down debt and rebuilt its capital base, as well as improved liquidity.

The report lauds the Bank's success in enhancing liquidity amid challenging market conditions, and affirms it’s strategy and expectations for future earnings growth.

Background Information

Gulf Finance House

GFH is a well renowned financial group in the GCC region, with a diversified offering and pioneering track record. Headquartered in Bahrain, GFH’s innovative approach to Islamic investment banking services has been recognised internationally for over a decade. GFH has developed a strong and consistent ability to identify, successfully bring to market and capitalise on a wide range of solid investment opportunities in some of the world’s most dynamic markets and sectors. This approach signifies the Group’s investment insights and commitment to increase the value of its assets, and financial returns to its investors and shareholders.