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MENAFN - Khaleej Times - 19/08/2009

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(MENAFN - Khaleej Times) Gulf Finance Corporation, a wholly-owned subsidiary of SHUAA Capital, announced that Capital Intelligence, a regional credit rating agency, has reaffirmed its long-term 'BB' rating with a stable outlook.

In its rating report, the rating committee of Capital Intelligence highlighted the low level of non-performing loans, adequately capitalised balance sheet and the management capability as the rational for the rating decision.

"The rating reiterates the solidity of Gulf Finance's business model and its ability to withstand the effects of the current market conditions. Gulf Finance has a successful track record in facilitating straightforward access to capital for small and medium sized enterprises — a business segment which is vital for the continued economic prosperity of the United Arab Emirates," Majid Al Ghurair, Chairman of Gulf Finance, said.

 






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