“Walaa” receives an “A-” rating from “Standard & Poor’s” with a negative outlook

Walaa Cooperative Insurance Company (Walaa) announced that Standard & Poor’s has confirmed the company’s long-term financial strength rating at (A-) and (ksaAAA) on the Saudi national scale, and (gcAAA) on the regional scale of the Gulf Cooperation Council countries.
This confirmation supports the high level of capital adequacy at Walaa, which still exceeds the agency’s standard of 99.99%.
The company said in a statement on "Saudi Arabia trading"Today, Thursday: "However, Standard & Poor’s revised its outlook for Walaa’s rating from stable to negative, as a result of the company’s declining performance compared to its counterparts with an (A-) rating within the Kingdom and in the Gulf Cooperation Council region."

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