Manama: GFH Financial Group (“GFH” or “the Group”) today announced that Fitch Ratings has affirmed its Long- and Short-Term Issuer Default Ratings (IDR) at ‘B’. The Outlook on the Long-Term IDR is Stable. Fitch has also affirmed the senior unsecured long-term rating of the US$500 million sukuk due 2025 issued through GFH Sukuk Company Limited…
LONDON: Fitch Ratings has projected Serbia GDP growth to moderate to 4.4% in 2022 and 3.9% in 2023, while affirmed Serbia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BB+’ with a Stable Outlook. Serbia’s rating is supported by a credible macroeconomic policy framework, relatively low inflation, somewhat higher foreign exchange reserves, and stronger governance, human…
NEW YORK: Fitch Ratings is likely to revise up Mexican GDP growth forecasts (currently 5.3% for 2021 and 2.7% for 2022) after stronger-than-expected performance in 2Q21. “The banking system’s improving profitability in 1H21 outpaced expectations as credit quality deterioration was less than expected, particularly at large banks that frontloaded provisions in 2020,” the rating agency…
LONDON, UK: Fitch Ratings has revised Platform Housing Group’s outlook to stable, a news release said. Platform Housing Group has experienced a favourable ratings change. The new rating, A+ (stable outlook) (formerly A+ (negative outlook), reflects a similar amendment to the UK Sovereign rating. The revision to the Sovereign rating reflects the stronger resilience of…
STOCKHOLM: Fitch Ratings has raised Orkuveita Reykjavikur’s (RE) Long-Term Issuer Default Rating (IDR) from BB+ to investment grade ‘BBB-‘ with a Stable Outlook. The upgrade reflects our expectation of an improvement in credit metrics over 2021-2025 and OR’s stable performance in 2020 despite the pandemic, leading to an upward revision of the company’s Standalone Credit…
SYDNEY: Westpac notes that Fitch Ratings (Fitch) has today revised the Outlook for Westpac Banking Corporation’s Long Term Issuer Default Rating (IDR) to ‘Stable’, from ‘Negative’. The change in ratings outlook reflects Fitch’s view of the improved economic prospects in Australia. Fitch has affirmed Westpac Banking Corporation’s long-term issuer credit ratings at ‘A+’, and ‘F1’…
LONDON: Tritax EuroBox plc announced that Fitch Ratings Limited (Fitch) has assigned a BBB- long-term corporate credit rating to the Company, EuroBox’s first Investment Grade credit rating. Tritax EuroBox invests in a high-quality portfolio of very large, prime logistics real estate assets strategically located across continental Europe. As a result, the ratings condition in the…
IRVINE: Sabra Health Care REIT Inc. (Nasdaq: SBRA) announced today that Fitch Ratings has revised its rating outlook for Sabra to Stable from Negative and that both Fitch and S&P Global Ratings affirmed the ratings for Sabra’s debt as ‘BBB-‘. Fitch notes in its report that its affirmation of Sabra’s ratings and revision to Stable…
DOHA: Global credit rating agency Fitch published the Qatar International Islamic Bank (QIIB)’s full rating report which demonstrating the same QIIB’s strong rating at ‘A’ with a stable outlook. This is based on the Bank’s financial statements at the end of the third quarter of 2020, which attests to the fact that QIIB has maintained…
OLDWICK: Rating agency AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa” to London Life International Reinsurance Corporation (LLIRC) (Barbados). The outlook assigned to the Credit Ratings is stable. London Life is rated as part of the group rating for The Canada Life Assurance Company…