Moody’s assigns a first time rating of A3 with stable outlook to SNB Capital

RIYADH: Moody’s has assigned a first time A3 long term issuer rating to the investment banking arm of the Saudi National Bank. 

The global ratings agency has also set a stable rating outlook for SNB Capital, it said in a statement. 

The long-term rating issued reflects SNB Capital’s independent assessment and Moody’s assumption of a very high level of support from its parent SNB. 

SNB Capital is strategically important to its parent, as it benefits from strong financial and operational linkage, as well as the shared brand name and increasingly shared customer base, Moody’s reported.