Fitch lowers Aramco to ‘A’ following Saudi Arabia downgrade

RIYADH: Fitch on Tuesday downgraded Saudi Aramco’s Long-Term Issuer Default Rating (IDR) to “A” from “A+,” the agency’s upper medium investment grade. The outlook for this rating is “stable.” The Aramco downgrade comes after Fitch lowered Saudi Arabia’s long-term foreign-currency issuer default rating to “A” from “A+” last month, citing rising geopolitical… Continue reading

Sistema rating raised to ruA by Expert RA

MOSCOW: Sistema PJSFC, a publicly traded diversified Russian holding company, announced that the RAEX (Expert RA) rating agency has raised Sistema’s credit rating from ruA- to ruA. The outlook for the rating is stable. The rating upgrade is the result of consistent deleveraging at the Corporate Centre against a backdrop… Continue reading

AM Best upgrades issuer credit rating of Friday Health Plans of Colorado, Inc.

[the_ad id=”32940″]OLDWICK: AM Best has upgraded the Long Term Issuer-Credit Rating to “ccc-” from “cc” and affirmed the Financial Strength Rating of C- (Weak) of Friday Health Plans of Colorado, Inc. (Friday Health) (Alamosa, CO). The outlook of these Credit Ratings have been revised to stable from negative. The ratings… Continue reading

Standard & Poors’ reaffirms Al Baraka Banking Group’s rating

DUBAI: The Bahrain based leading international Islamic banking group, Al Baraka Banking Group (B.S.C.) (“ABG”), announced that Standard & Poors’ (S&P) had re-reaffirmed ABG’s rating of BB (long term) and B (Short term).[the_ad id=”31605″]S&P commented that ABG’s strength was its superior geographic diversification when compared to its peers and the… Continue reading

AM Best revises outlooks to positive for Kentucky Growers Insurance Company

OLDWICK: AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Kentucky Growers Insurance Company (KGIC) (Lexington, KY).[the_ad id=”31605″]The ratings reflect KGIC’s balance sheet strength, which AM Best categorizes as very strong,… Continue reading

Moody’s upgrades X5’s rating to Ba1/Stable

AMSTERDAM: X5 Retail Group N.V., a leading Russian food retailer, announces that Moody’s Investors Service has upgraded the Company’s corporate family rating to Ba1 from Ba2. The outlook is “Stable”. Moody’s stated that the upgrade reflects X5’s strong sales growth, leading market position and solid and sustainable profitability, despite increasing competition in Russia’s… Continue reading