Riyadh – Mubasher: Moody's Investors Service assigned first time long and short-term deposit ratings of “Baa1” and “P-2”, respectively, for Gulf International Bank Saudi Arabia (GIB), according to Moody’s recent report.

The rating reflects primarily Moody's expectation of very high support from the government of Saudi Arabia, which controls both entities, has been instrumental in establishing the structure of the GIB group, and will remain a key driving force for the bank's strategy and performance.

The rating agency has also assigned baseline credit assessment (BCA) and adjusted BCA of “ba3” and “ba2”, respectively.

Moody’s has also affirmed the rating of GIB’s long and short-term counterparty risk at (Baa1) and (P-2), respectively.

The outlook assigned to the long-term deposit ratings is stable.