GFH Financial Group would like to advise its shareholders and the markets that Capital Intelligence (“CI”) has assigned the Group with a ‘BB-‘ long-term foreign currency rating with a negative outlook. Furthermore, the Agency affirmed the Group’s short term foreign currency rating at ‘B’. This rating comes in line with the sovereign ratings which were revised due to the current market conditions arising from decrease of oil prices and the Covid-19 pandemic. The report praised the continuous progress of the Groups key strategic objectives of diversifying its business lines and the Group’s strong liquidity and funding from decisively expanding its treasury and money market activities.

Management’s opinion on the assigned rating:
The management are pleased with the recognition from the agency on the Group’s solid treasury portfolio and strong liquidity position even though global and regional markets are being impacted severally due to the economic repercussions arising from the global health issue and decline in oil prices. This further demonstrates the success of management in diversifying the Group’s business lines enabling it to withstand and overcome any market conditions. The management will continue to execute the Group’s strategy with the aim of enhancing results and delivering greater value to the shareholder and investors in the coming year.