GFH Financial Group would like to advise its shareholders and the markets that Fitch Ratings, the international credit rating agency, has reaffirmed the Group’s rating Long-and Short-Term Issuer Default Rating (IDR) at ‘B’ with the Outlook on the Long-Term IDR as ‘Stable’.

The reaffirmation of the Group’s ratings reported by Fitch takes into account the management’s strategic objective of reshaping GFH’s business model towards more stable and recurring revenue sources such as fee generation and lower-risk fixed income assets.

The report also cited the fact that GFH has continued to grow its money market activities, as reflected in liquid assets accounting for an average of 24.3% of assets in 2019, compared with 9.7% in 2018. Fitch sees Sukuk issuance of USD500 million in 2020 across two
tranches has helped to strengthen GFH’s liquidity.