Following a review of Al Rajhi Bank under Standard&Poor's revised bank criteria (published on Nov. 9, 2011), we have affirmed our 'A+/A-1' long- and short-term ratings on the bank. Our ratings on Al Rajhi Bank reflect its 'a-' anchor, as well as its adequate business position, very strong capital and earnings, moderate risk position, average funding, and adequate liquidity. The long-term rating benefits from a one-notch uplift for potential extraordinary government support in case of need. The stable outlook mainly reflects our expectation that Al Rajhi Bank will maintain its superior capital position and earnings capacity, while keeping its leading domestic market position in retail. As we previously announced on Dec. 14, 2011, Standard&Poor's Ratings Services
