The international credit ranking company, introduced today that it has updated the Financial Toughness rating of Gulf Bank from "BBB+" to "A-".

"The rating upgrade is supported by audio and sustained renovation in the Bank's loan asset quality, the solid funding and great liquidity placements," said Funding Knowledge in its recently issued record. The score likewise mirrors "Gulf Bank's well established domestic franchise business and particularly its toughness in the retail industry," according to Funding Knowledge. Gulf Bank's Financial Strength and Foreigh Currency outlook are currently both modified to Stable from Positive. The Long-Term and Short-Term Foreign Currency Ratings have also been upgraded to A+ and A1 from A and A2, respectively.

Commenting on the announcement, Ms. Dalal Al-Dousari, Gulf Bank's Assistant General Manager of Investor Relations stated, "We are pleased to reveal the upgrade of Gulf Bank's Financial Toughness rating this year, from "BBB+" to "A-". "The upgrade is an affirmation of Gulf Bank's strong risk absorption capacity and solid funding competence," continued Al-Dousari. " Gulf Bank continuouslies be well recognized in regards to its credit merit and monetary toughness internationally,".

In addition to Capital Intelligences current upgrade, S&P Global Ratings changed their overview on the Bank to "Positive" from Stable and verified its issuer credit score at "A-" in June 2017. Similarly, Fitch Rankings has updated Gulf Bank's feasibility score from "bb" to "bb+" and attested the bank's Long-Term Company Default Ranking at 'A'with a "Stable" Outlook. Moody's Investors Solution also affirmed the Bank's "A3" long-lasting down payments score and Stable outlook in May 2017.