Moody's also confirmed opposite-party risk ratings and counter-party risk ratings in categories A1 / P-1 and A1 (cr) / P-1 (cr), respectively. .
In addition, the agency confirmed basic credit rating (BCA) and modified basic credit rating in class a3, and changed the outlook for long-term deposit ratings from stable to Negative.
The confirmation of the bank's classifications of deposits in category A1 reflects Moody's assessment of the existence of a very high probability of supporting the government of the Kingdom of Saudi Arabia (classified A1 with a stable outlook) and that translates into raising the rating. The basic credit of the bank is two class A3.
The bank's basic credit assessment (BCA) reflects the strength of capital and profitability, the balance sheet funded by deposits, and adequate levels of liquid assets. The bank's primary credit rating also reflects the strength of asset quality, although it is weakened by the risk of a borrower's concentration.
The negative outlook for the bank's ratings reflects the possibility of factors that press towards reducing the bank's solvency rating across asset quality and profitability. It also reflects the Bank's moderate liquidity levels from previously higher levels.
