GFH Financial Group would like to advise its shareholders and the markets that that Capital Intelligence has affirmed the Group’s longterm and short-term corporate ratings at (BB-) and (B) respectively with a negative outlook in line with the sovereign ratings of the Kingdom of Bahrain.
The report praised the strong liquidity of the Group, the expansion in treasury activities and the continuous progress of the Group’s key strategic objectives of diversifying its business lines, in addition to the Sukuk issuance of USD500 million in 2020 which has helped to strengthen the Group’s liquidity.
The management is pleased with the continuous recognition from the agency on the Group’s solid treasury portfolio and its strong liquidity position, which reflects the management’s success in diversifying the Groups’ business lines enabling it to withstand and overcome any market conditions. The management will continue to execute the Group’s strategy with an aim to enhance results despite the emerging economic challenges due to repercussions of the Coronavirus (Covid-19).
You may refer to the agency’s website for the report: http://www.ciratings.com/news/2020/10/02/3506