GFH Financial Group would like to advise its shareholders and the markets that Capital Intelligence Ratings (CI) has affirmed our outlook as ‘Stable’ – in addition to reaffirming our Long and Short-term Foreign Currency Rating as “BB-B”, respectively.
According to the CI, the ratings remain underpinned by GFH’s adequate liquidity and low refinancing risk, as well as reasonable geographical diversification of assets and business lines. GFH’s satisfactory debt service capacity, extended debt maturity profile (following USD500mn 5-year sukuk issue in 2020), and adequate capitalization also support the ratings.
Commenting, Damian White, Group Chief, Financial Institutions and Proprietary Investments, said, “we are pleased that Capital Intelligence has affirmed the Group’s ratings and stable outlook. Their assessment highlights the progress we continue to make in diversifying and transforming the Group. It also underscores the sound operational and financial position we have built as well as broader market confidence in GFH, our strategy and performance both now and for the future.”
You may refer to the agency’s website for the report:
http://www.ciratings.com/news/2023/10/06/4198