Riyadh – Mubasher: Standard & Poor’s Ratings Services (S&P) affirmed the financial strength rating (FSR) of Walaa Cooperative Insurance Company at ‘BBB+’, with a ‘Positive’ outlook.
The rating agency also affirmed the company’s GCC regional scale financial strength credit rating at ‘gcAA+’.
The rating reflects Walaa’s “capital adequacy as well as the company’s ambitious growth and diversification plans”, according to a filing to the Saudi Stock Exchange (Tadawul) on Tuesday.
