Fitch rates First Gulf Bank certificates A+

Fitch Ratings said it assigned a final long-term rating of A+ on First Gulf Bank's $500 million five-year fixed-rate trust certificates issued by FGB Sukuk Co. Ltd. under its $3.5 billion trust certificate issuance program.

The rating is driven solely by the bank's long-term issuer default rating of A+, Fitch said.

Fitch said the rating on the certificates reflects a belief that the bank would stand behind its obligations based on the transaction documents.

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