Finance House P.J.S.C (FH) announced its Corporate Credit Rating of “BBB-” (Long-Term) and “A3” (Short-Term). With both Investment Grades recently affirmed by Capital Intelligence (CI), the international credit rating agency, Finance House demonstrates solidly stable outlooks, while maintaining the same Credit Rating for three consecutive years.
While affirming the above ratings in a recently released Credit Rating Announcement, CI states that “ Although FH has only been operating for little over a decade it has a strong and experienced management team that have equipped FH with a wide range of offerings to both, the corporate and retail sectors, along with an Investment Banking capability. An unusual phenomenon for NBFCs that tend to otherwise provide a restricted range of offerings”.
Mohammed Abdulla Alqubaisi, Chairman of Finance House said: “The credit rating is a testament of Finance House’s firmly set growth strategies, increasing earnings projections and most importantly its stable financial condition. It also reaffirms the resilience of our business model despite challenging market conditions, and the robust corporate governance structure set by the experienced senior management pool.”
T.K Raman, Group Chief Financial Officer, said: “This is a positive development for FH and a key catalyst that will further strengthen our existing relationships with customers and banking partners; but most importantly, it will also aid in building new relationships across the globe.”
FH is among the very few private sector companies in the GCC that have secured/maintained an investment grade Credit Rating from an internationally reputed credit rating agency, let alone managed to maintain it for three consecutive years.
“We are glad to have maintained our credit ratings. But we shall not rest on our laurels. Moving forward, we are committed to continuously building on this platform and working to our best in order to score not only stable Investment Grades but even higher rating,” concluded Alqubaisi.