Standard & Poor’s maintain the Rating “AA-” of “Investment Guarantee” for 2020 with Stable Outlook
Standard & Poor’s Rating Services, one of the world’s leading rating agencies, reaffirmed its “AA-” rating on Dhaman, with a Stable Outlook, to remain unchanged compared to the rating of 2019.
According to the agency’s report released on March 31, 2020, the recent rating review on Dhaman reflect its financial position, with a very robust capital and a high liquidity that allow meeting its engagements, the strength and diversification of its insurance portfolio, and the business development plans. The agency also expects that Dhaman will continue to expand its business, especially in areas where commercial insurance companies are inactive or have a reduced presence mainly for export credit insurance operations.
The report pointed to the impact of low oil prices and of the spread of the Covid 19 virus on the global markets and on the corporation’s markets in particular, this represents an important challenge to the growth plans of Dhaman’s business. Nevertheless, S &P highlighted the strong classification of financial and institutional risks, the corporation’s risk management practices improvement through the implementation of comprehensive control practices and the very strong support of shareholders.