Moody’s affirm Samba’s rating A1 with stable outlook

Moody's Investors Service on Wednesday affirmed the rating of Samba Financial Group at A1 with a stable outlook, on par with Saudi Arabia's A1 stable sovereign rating, Samba said in a statement.

The outlook reflects the bank's strong solvency and liquidity, which provide resilience against asset risks, it said.

In a September report on Samba, Moody’s said the Saudi lender’s strong capital reserves gives it greater ability to withstand credit losses.

The ratings agency added that Samba’s profitability is expected to remain solid and support its overall credit profile.