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Special Standard & Poor's Survey Shows That Rated Gulf Banks Are Significantly Exposed To The Saad And Algosaibi Groups Jul 09 Product Image

Special Standard & Poor's Survey Shows That Rated Gulf Banks Are Significantly Exposed To The Saad And Algosaibi Groups Jul 09

  • ID: 1810085
  • July 2009
  • Standard & Poors

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Abstract
Standard & Poor's Rating Services conducted a survey on 30 commercial banks that it rates in Gulf Cooperation Council (GCC) countries to assess their direct exposure to the Saad and Algosaibi groups (including their banking subsidiaries), two prominent groups based in Saudi Arabia's Eastern Province. The Saad group is a conglomeration of international financial services companies, manufacturing facilities, investment companies, and health care, education, and real estate development activities. The Algosaibi group is active in financial services, bottling and distribution, can manufacturing, real estate investment, hotels, shipping, and contracting. These two groups ran into severe and unexpected difficulties in recent months and have entered debt restructuring discussions with their respective creditors. While information related to each individual Gulf bank's exposure...

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- Kaman Corp.
- Moog Inc.
- Raytheon Co.
- Textron Inc.
- Hexcel Corp.
- BAE Systems PLC
- Finmeccanica SpA
- Gulf International Bank B.S.C.
- European Aeronautic Defence and Space Co. N.V.
- AAR Corp.
- National Bank of Kuwait S.A.K.
- Sequa Corp.
- Arab Banking Corp. B.S.C.
- Thales S.A.
- Bombardier Inc.
- Orbital Sciences Corp.
- BE Aerospace Inc.
- Alliant Techsystems Inc.
- Lockheed Martin Corp.
- Northrop Grumman Corp.
- Communications & Power Industries Inc.
- The National Commercial Bank
- Arab National Bank
- Samba Financial Group
- Riyad Bank
- The Saudi British Bank
- National Bank of Dubai
- Emirates Bank International PJSC
- National Bank of Abu Dhabi
- Mashreqbank
- L-3 Communications Corp.
- Abu Dhabi Commercial Bank
- Precision Castparts Corp.
- Commercial Bank of Kuwait
- DeCrane Aerospace Inc.
- TransDigm Inc.
- Rolls-Royce PLC
- BankMuscat S.A.O.G.
- Burgan Bank
- Israel Aerospace Industries Ltd.
- Al Rajhi Bank
- Vought Aircraft Industries Inc.
- Rockwell Collins Inc.
- Dubai Islamic Bank
- Gulf Bank
- Esterline Technologies Corp.
- ARINC Inc.
- Al Ahli Bank of Kuwait
- Heckler & Koch GmbH
- Kuwait Finance House
- Qatar National Bank
- DynCorp International LLC
- AmeriQual Group LLC
- Spirit AeroSystems Inc.
- MTU Aero Engines Holding AG
- Embraer S.A.
- BMI Bank B.S.C.
- Banque Saudi Fransi
- The Commercial Bank of Qatar
- The Saudi Investment Bank
- Atlantic Marine Holding Co.
- Sharjah Islamic Bank
- Al Baraka Banking Group B.S.C.
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- Wesco Aircraft Holdings Inc.
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