Finance House secures investment grade rating | Finance House secures investment grade rating -

Finance House secures investment grade rating

: Sunday, February 16 - 2014 @ 15:46

The Abu Dhabi Securities Exchange General Index (ADXGI) closed unchanged at 4,891.74 points on Sunday, February 16. Finance House (FH) ended event at AED13.70. Earlier in the day, FH revealed that it received a long-term investment grade rating of ‘BBB-’ and a short-term investment rank of ‘A3’ from rating agency, Capital Intelligence (CI). According to CI, it evaluated FH based on its strong capital base, good capital ratios, improved liquidity ratios and rising profitability. The announcement comes after the company had earlier reported a net profit of AED83.7 million, which is up by 15.9 per cent year on year. The shares of Abu Dhabi National Energy Co – or TAQA – fell by 1.40 per cent to AED142.

Gérard Al-Fil

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Sunday, February 16- 2014 @ 15:46 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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