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Saudi banks set to get positive rating

Posted on 23 April 2010

From Arabnews.com: Capitalization underpins the credit ratings on Standard & Poor’s rated banks in Saudi Arabia and will likely continue to be a rating positive this year, said Standard & Poor’s Ratings Services in a report “S&P RAC Ratio Adds Insight On Saudi Banks’ Risk Profiles - And Emphasizes Capital As A Supportive Rating Factor,” published on Tuesday.
“We consider that the capitalization of the banks we rate in Saudi Arabia ranges from adequate to solid and is a supportive rating factor,” said Standard & Poor’s credit analyst Nicolas Hardy. “Consequently, we think these banks carry sizable capital cushions to absorb unexpected losses.”……………………………………..Full Article: Source

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