Gulf Investment Corporation (GIC) announced today that Moody’s Investor Service, in their recently published Credit Analysis report, have maintained its Long Term rating at A2 and Short Term rating at P-1, with a “Stable outlook”.gickw
They emphasized our robust capital position, the strong funding & liquidity profile, the strength of management and the willingness and capability of GIC’s shareholder as key support factors, in a challenging future business environment. Moody’s is very positive on our de-leveraging strategy and the focus it will have on our assets. It is especially commendable that the rating confirmations come despite a period of increased turmoil within the regional and international operating environments.
Commenting on the ratings, Mr. Ibrahim Al Qadhi, CEO, said: “I believe this is a significant achievement which is likely to have a positive impact on GIC’s profile. We will continue to work with other rating agencies to achieve and maintain an optimum rating profile. This achievement was made possible by valuable contributions from each of the Board members, and the undiminishing support and backing of the shareholding states, whom they represent, and the contributions made by the senior team at GIC towards this achievement.”
Earlier this year, in August 2017, Fitch Ratings also reaffirmed GIC’s Long Term rating (A-), Short Term rating (F1) and “stable” outlook.