(The following statement was released by the rating agency)
DUBAI/LONDON, September 21 (Fitch) Fitch Ratings has affirmed 11
Saudi Arabian
banks' Long-Term Issuer Default Ratings (LTIDRs) and downgraded
the Viability
Ratings (VRs) of two of the reviewed banks, Riyad Bank (Riyad)
and Arab National
Bank (ANB), to 'bbb+' from 'a-'. The Outlook for all banks is
Negative. A full
list of rating actions is available at the end of this rating
action commentary.
The downgraded VRs of Riyad and ANB re
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