MANAMA: Credit rating agency Capital Intelligence (CI) has raised
The outlook for GFH's ratings reverts to 'Stable' from 'Positive' following the rating action.
According to CI, the new ratings reflect a number of positive factors and progress at the bank.
As cited in the report, these include the recent successful refinancing and resultant extended debt repayment period.
Also supporting the ratings is the significant reduction in leverage, with the bank having successfully paid down debt and rebuilt its capital base, as well as improved liquidity.
The report lauds the bank's success in enhancing liquidity amid challenging market conditions, and affirms its strategy and expectations for future earnings growth.
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 30, 2014
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