Bloomberg News

Saudi British Bank Ratings Reviewed for Downgrade at Moody’s

December 20, 2011

Dec. 20 (Bloomberg) -- Saudi British Bank, the lender 40 percent owned by HSBC Holdings Plc, had its ratings placed on review for possible downgrade at Moody’s Investors Service.

“The bank’s financial fundamentals and risk positioning -- both in absolute and relative terms -- are increasingly more aligned with its lower rated peers,” Moody’s said in a statement today. “Over the last couple of years of relative stress, Saudi British Bank’s performance has deviated from those of similarly rated peers, particularly in the areas of corporate as well as retail credit in Saudi Arabia.”

Saudi British Bank shares have lost 5 percent this year, compared with a 14 percent decline for the Tadawul All Share Bank Index.

Link to Statement: {NSN LWHRJW3PWT1D <GO>}

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus