Fitch rates First Gulf Bank notes A+

Fitch Ratings said it assigned First Gulf Bank's inaugural issue under its $3.5 billion euro medium-term note program of $500 million senior unsecured notes due November 2012 a final long-term rating A+.

The agency affirmed the EMTN program's long-term senior debt rating at A+, short-term senior debt rating at F1 and subordinated debt rating at A.

The bank has a long-term issuer default rating of A+ with a stable outlook, short-term issuer default rating of F1, individual rating of C/D, support 1 and support rating floor of A+.

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