Abu Dhabi, 27 January, 2015 – Finance House P.J.S.C (FH) announced that its Investment Grade Corporate Credit Ratings of “BBB-” Long-Term and “A3” Short-Term, both with a Stable Outlook, have recently been affirmed by Capital Intelligence (CI), the international credit rating agency.
While affirming the above ratings in a recently released Credit Rating Announcement, CI states that “these ratings are supported by a strong capital base, good capital ratios, improved asset quality, good liquidity ratios and rising profitability”.
Mohammed Abdulla Alqubaisi, Chairman of Finance House 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.”
FH 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,” concluded Alqubaisi.