CI affirms GFH’s long-term rating BB and outlook at stable
a rebound in Q1, 2016 and the still challenging investment environment exacerbated by the fall in oil prices. However, the report also noted that looking ahead revenue volatility was likely to diminish and income generation to strengthen due to the increasingly strong performance and results of KHCB.
Commenting on Capital Intelligence’s ratings, Hisham Al-Rayes, CEO of GFH Financial Group, said: “We are pleased with this affirmation of our ratings by Capital Intelligence. As a leading international credit rating agency, their confirmation of the financial health and continued stable outlook for the group underscores the success of our strategy and our sound financial and operational performance and results over the past year.”
Al- Rayes added: “As noted in the report, we have significantly diversified our revenue streams, have adequate levels of liquidity, paid down debt and established a stronger capital base. These actions have provided us with even stronger foundations and more flexibility in the ongoing pursuit of our investment activities and efforts to create even greater value for our shareholders.”