Fitch rates Gulf International Bank's $4bn EMTN programme 'A'
- Bahrain: Tuesday, November 24 - 2009 at 10:24
- PRESS RELEASE
Fitch Ratings has assigned Bahrain-based Gulf International Bank's (GIB) $4bn euro medium term note programme a Long-term senior debt rating 'A' and a subordinated debt rating 'A-'. Fitch notes there is no assurance that notes issued under the programme will be assigned a rating, or that the rating assigned to a specific issue under the programme will have the same rating as the programme's rating.
Fitch assigned GIB's inaugural issue from this programme of SR2bn unsecured unsubordinated floating rate notes a Long-term rating 'A' on 10 November 2009.
Established in 1975, GIB provides wholesale banking services to Gulf corporate and institutional clients. It has branches in the UK, US and Saudi Arabia. GIB is 97.2%-owned by the government of Saudi Arabia.
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