Moody’s downgrades Banque Saudi Fransi and Saudi British Bank

saudi bank moody banque fransi
Saudi Arabia

Moody’s downgrades Banque Saudi Fransi and Saudi British Bank

Moody’s Investors Service has downgraded two Saudi Arabian banks, Banque Saudi Fransi (BSF) and Saudi British Bank (SABB).

On BSF, the agency downgraded its local and foreign currency long-term bank deposit ratings to A2 from A1. The bank’s Baseline Credit Assessment (BCA) and Adjusted BCA were downgraded to baa1 from a3.

“The outlook on the bank’s long-term deposit ratings remains negative, reflecting the negative outlook on the A1 issuer rating of the Saudi government.”

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