Fitch revises six Saudi banks outlook to ‘stable’
RIYADH: Fitch Ratings has revised six Saudi Arabia’s banks’ outlooks to stable from negative and affirmed the Foreign Currency and Local Currency Long-Term Issuer Default Ratings (IDRs) at ‘BBB+’. Fitch’s assessment considers the authorities’ strong ability to support the banking system, given large, albeit reduced from their historical levels, external reserves. It also reflects a long … Read more