Capital Intelligence RSS Feed http://www.ciratings.com/_rss/news.xml Capital Intelligence Capital Intelligence http://www.ciratings.com/news/2021/04/21/3624 Iraqi Islamic Bank for Investment and Development - Ratings Affirmed Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Iraqi Islamic Bank for Investment and Development's (IIB) Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of 'B-' and 'B', respectively. The Outlook for the LT FCR remains Stable. CI Ratings has also affirmed IIB's Bank Standalone Rating (BSR) of 'b-' with a Stable Outlook, Core Financial Strength rating of 'bb-', and Extraordinary Support Level (ESL) of Uncertain. 21 April 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3623 Al Janoob Islamic Bank - Ratings Affirmed Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Al Janoob Islamic Bank for Investment and Finance's (JIB) LT FCR and ST FCR of 'B-' and 'B', respectively. At the same time, CI Ratings has affirmed JIB's Bank Standalone Rating (BSR) of 'b-', Core Financial Strength (CFS) rating of 'b', and Extraordinary Support Level (ESL) of Uncertain. The Outlook for both the LT FCR and BSR is Stable. 20 April 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3622 Ratings of Saudi National Bank (previously National Commercial Bank) Affirmed Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the ratings of The National Commercial Bank (NCB), now renamed as The Saudi National Bank (SNB). This action follows the completion of the merger between NCB and Samba Financial Group (Samba). SNB's Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) have been affirmed at 'A+' and 'A1', respectively. The Outlook for the LT FCR is Negative. The Bank Standalone Rating (BSR) of 'a-' with a Stable Outlook, Core Financial Strength (CFS) rating of 'a-' and Extraordinary Support Level (ESL) of High are also affirmed. 14 April 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3621 Ratings of Samba Financial Group Withdrawn Following Merger Capital Intelligence Ratings (CI Ratings or CI) today announced that it has withdrawn the ratings and discontinued analytical coverage of Samba Financial Group (Samba). Samba has ceased to exist as a separate legal entity, with all assets and liabilities transferred to The National Commercial Bank (NCB), following the completion of their merger on 1 April 2021. NCB is the continuing legal entity. 14 April 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3620 Qatar National Bank - Ratings Affirmed with a Stable Outlook Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Qatar National Bank (QNB) at 'AA-' and 'A1+' respectively. At the same time, CI Ratings has affirmed QNB's Bank Standalone Rating (BSR) of 'a-', Core Financial Strength (CFS) rating of 'a-' and Extraordinary Support Level (ESL) of Very High. The Outlook for the LT FCR and BSR is Stable. 13 April 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3619 Bahrain - Sovereign Ratings Affirmed Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Bahrain's Long-Term Foreign Currency Rating (LT FCR) and Long-Term Local Currency Rating (LT LCR) at 'BB-'. At the same time, CI Ratings has affirmed the sovereign's Short-Term Foreign Currency Rating (ST FCR) and Short-Term Local Currency Rating (ST LCR) at 'B'. The Outlook for all ratings remains Negative. 09 April 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3618 Qatar Islamic Bank - Ratings Affirmed with a Stable Outlook Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Qatar Islamic Bank (QIB) at 'A+' and 'A1' respectively. At the same time, CI Ratings has affirmed QIB's Bank Standalone Rating (BSR) of 'a-', Core Financial Strength (CFS) rating of 'a-' and Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR and BSR is Stable. 06 April 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3617 National Bank of Iraq - Ratings Affirmed with a Stable Outlook Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of National Bank of Iraq (NBI) at 'B' and 'B', respectively. At the same time, CI Ratings has affirmed NBI's Bank Standalone Rating (BSR) of 'b-', Core Financial Strength (CFS) rating of 'bb', and Extraordinary Support Level (ESL) of Moderate. The Outlook for both the LT FCR and BSR is Stable. 31 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3616 RHC Sukuk 1 SAR 523mn Sukuk - National Rating of 'saA-' Assigned Capital Intelligence Ratings (CI Ratings or CI) today announced that it has assigned a first-time issue rating of 'saA-' on the Saudi Arabia National Scale to the forthcoming issuance of a SAR523mn Sukuk by RHC Sukuk 1 Ltd. The Outlook on the rating is Stable. 30 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3615 First Commercial Bank - Ratings Affirmed with a Stable Outlook Capital Intelligence Ratings (CI Ratings or CI) announced today that it has affirmed First Commercial Bank's (FCB) Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) at 'A-' and 'A2', respectively. CI Ratings also affirmed FCB's Bank Standalone Rating (BSR) of 'bbb', Core Financial Strength (CFS) rating of 'bbb-' and Extraordinary Support Level (ESL) of High. The Outlook on the LT FCR and BSR is Stable. 24 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3614 Gulf International Bank - Outlook on LT FCR Revised to Negative Following Similar KSA Sovereign Action Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on Gulf International Bank's (GIB) Long-Term Foreign Currency Rating (LT FCR) of 'A+' to Negative from Stable. The rating action follows the revision of the Outlook on Saudi Arabia's sovereign ratings to Negative from Stable. 23 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3613 Turkey - Increased Uncertainty about Future Monetary Policy Raises External Financing Risks Uncertainty in global financial markets regarding the future path of monetary policy in Turkey has increased substantially following the replacement of the governor of the Central Bank of Turkey (CBRT) last Friday. 23 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3612 Qatar International Islamic Bank - Ratings Affirmed with a Stable Outlook Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Qatar International Islamic Bank (QIIB) at 'A' and 'A1' respectively. 23 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3611 Burgan Bank - KWD100mn Subordinated Bond Issue Rating Withdrawn Due to Early Redemption of the Obligation Capital Intelligence Ratings (CI Ratings or CI) today announced that it has withdrawn the 'BBB' issue rating assigned to Burgan Bank's KWD100mn Tier 2 Subordinated bond as the issue was fully prepaid on 9 March 2021. The Outlook on the rating was Stable. 23 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3610 Taiwan Cooperative Bank - Ratings Affirmed with a Stable Outlook Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Taiwan Cooperative Bank (TCB) at 'A-' and 'A2', respectively. TCB's Bank Standalone Rating (BSR) of 'bbb', Core Financial Strength (CFS) rating of 'bbb-' and Extraordinary Support Level (ESL) of High have also been affirmed. The Outlook for the LT FCR and BSR is Stable. 23 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3609 Land Bank of Taiwan - Ratings Affirmed with a Stable Outlook Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Land Bank of Taiwan (LBOT) at 'A' and 'A1', respectively. At the same time, CI Ratings has affirmed LBOT's Bank Standalone Rating (BSR) of 'bbb', Core Financial Strength (CFS) rating of 'bbb-' and Extraordinary Support Level (ESL) of Very High. The Outlook for the LT FCR and BSR is Stable. 23 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3608 Cyprus - Sovereign Ratings Affirmed; Outlook Remains Stable Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Republic of Cyprus' Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) at 'BB+' and 'B', respectively. At the same time, the Outlook for the ratings was affirmed as Stable. 19 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3607 Hadiqah Al Madina OMR12.5mn Sukuk - National Rating Revised to 'omA-' Following Recalibration of Oman National Scale; Outlook Lowered to Negative Capital Intelligence Ratings (CI Ratings or CI) announced today that it has revised the rating assigned to the OMR12.5mn Sukuk issued by Hadiqah Al Madina Sukuk L.L.C. (maturing 2025) to 'omA-' from 'omBBB'. The Outlook on the rating is lowered to Negative from Stable. 18 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3606 Tilal Sukuk - National Rating Revised Following Recalibration of Oman National Scale Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the National Rating (Oman Scale) of the Sukuk issued by Tilal Sukuk Company to 'omA-' from the previous 'omA'. The Outlook on the rating is Negative. The change in the Sukuk rating reflects the recalibration of the National Rating Scale for Oman. 18 March 2021 Capital Intelligence http://www.ciratings.com/news/2021/04/21/3605 Golden Group LLC OMR50mn Wakala Sukuk - National Rating Revised to 'omA-' Following Recalibration of Oman National Scale Capital Intelligence Ratings (CI Ratings or CI) announced today that it has revised the rating assigned to the OMR50mn Sukuk issued by Golden Sukuk L.L.C. (maturing February 2023) to 'omA-' from 'omBBB+'. The Outlook on the rating remains Negative. 18 March 2021 Capital Intelligence