Riyadh – Mubasher: Standard & Poor's downgraded its credit ratings for five Saudi banks, while affirming ratings for three others.
The ratings agency lowered ratings for National Commercial Bank, Al Rajhi Bank, Samba Financial Group, Riyad Bank and Saudi British Bank to "BBB+", with Stable outlook.
S&P also maintained its ratings for Arab National Bank and Banque Saudi Fransi at "BBB+/A-2", with Stable outlook. It affirmed Saudi Investment Bank (SAIB) rating at "BBB/A-2", with Stable outlook.
