Mubasher: GFH said Capital Intelligence (CI), the international credit rating agency, has affirmed its long-term rating at 'BB' and the short-term rating at 'B', with stable outlook.

According to CI's report, the ratings are supported by some positive factors, including GFH 's satisfactory leverage, improved diversification of the balance sheet and revenue streams in H1-15 and consolidation of Khaleeji Commercial Bank.

GFH 's liquidity metrics and debt service capacity have improved albeit moderately, the report stated.

"The rating affirmation by CI is an acknowledgement and important validation that the group is on the right track and continues to receive the support and confidence of the market and its shareholders," said GFH's CEO Hisham Al-Rayes.

"This is a result of the strategy we have adopted both on the financial and operational levels. This noticeable success is also the result of GFH 's efforts to identify promising opportunities and realize the optimum benefits from them," he added.