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Walaa Cooperative Insurance Company announces that S&P Global Ratings has affirmed the Company’s Financial Strength Rating at (A-) and revised the outlook from stable to negative.
| Element List | Explanation |
|---|---|
| Announcement Detail | Walaa Cooperative Insurance Company (Walaa) announces that S&P Global Ratings has affirmed the Company’s Financial Strength Rating at ‘A-‘ long term insurer financial strength rating, ‘ksaAAA’ long-term Saudi national scale, and ‘gcAAA’ long-term Gulf Cooperation Council (GCC) regional scale financial strength ratings on Walaa supported by the high capital adequacy, which remains comfortably above S&P’s 99.99% benchmark. However, S&P Global Ratings has revised its outlook on Walaa’s ratings to negative from stable due to the continued underperformance relative to peers rated at ‘A-‘, both in Saudi Arabia and the wider GCC region. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Company Performance
Key Parameters
Last Price 9.5
Net Change -0.25 (-2.56%)
Value Traded (Sar) 2,899,642.82
Volume Traded 302,904
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