Finance House comments on Investment Grade credit rating

27/01/2015 14:34 AST

Commenting on Capital Intelligence’s recent affirmation of its ratings [Finance House: BBB- Long-Term and A3 Short-Term, both with a Stable Outlook], Finance House Chairman Mohammed Abdulla Alqubaisi said, “The credit rating reaffirms the stable financial condition, robust earnings growth and sound growth strategies of Finance House. It is also a testament to the resilience of our business model, robust corporate governance structure and the effectiveness of an experienced and well-knit senior management team.”

T.K Raman, Group Chief Financial Officer, said, “This is a positive development for FH and a key catalyst that will not only strengthen existing relationships with our customers and banking partners but also aid in building new relationships across the globe.”

Finance House is among the very few private sector companies in the GCC that have secured/maintained an investment grade corporate credit rating from an internationally reputed credit rating agency.

“We are glad to have maintained our credit ratings. But we shall not rest on our laurels. Going forward, we are committed to work even harder to build on this platform and to improve our ratings,” added Alqubaisi.

While affirming the ratings in a recently released credit rating announcement, Capital Intelligence stated that, “These ratings are supported by a strong capital base, good capital ratios, improved asset quality, good liquidity ratios and rising profitability.”

CPI Financial