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SNB Capital Achieves Upgrade to A2 Issuer Rating from Moody’s Ratings
SNB Capital, Saudi Arabia’s largest asset manager and investment bank, has been upgraded to an A2 issuer rating with a stable outlook projected.
The A2 issuer rating from Moody’s highlights SNB Capital’s stable financial framework, low credit risk, and ability to deliver consistent performance in changing market conditions, according to Moody’s.
“This rating upgrade is a recognition of SNB Capital’s ability to deliver consistent performance and maintain resilience in a dynamic financial landscape. As we build on this momentum, we are focused on driving sustainable growth, enhancing market accessibility, and shaping the future of Saudi Arabia’s capital markets in alignment with the goals of Vision 2030,” said SNB Capital CEO Rashed Sharif.
SNB Capital's strategic importance to its parent company, SNB, allows both to benefit from an increasingly integrated customer base, which has opened up significant cross-selling opportunities. Its evolving product suite aligns with SNB’s offerings, fostering collaboration and enhancing the value provided to clients.
Furthermore, the ratings agency also recognized SNB Capital’s leadership in Saudi Arabia’s asset management sector, where it maintains the largest market share with SAR 248 billion in assets under management as of September 2024. According to Moody’s, “The standalone assessment reflects SNB Capital's leading position in its domestic market, its good revenue diversification, notably across asset management and brokerage, as well as its strong profitability margins”.
The stable outlook reflects Moody’s expectation that SNB Capital will continue to deliver strong financial performance, maintain its leading market position, and benefit from ongoing integration with its parent company, SNB.
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SNB Capital Announces Successful Financial Close of USD 456 Million Landmark ECA Financing
SNB Capital is pleased to announce the successful financial close of a USD 456 million Export Credit Agency (ECA) financing, with Swiss Export Risk Insurance (SERV) providing cover.
SNB Capital acted as Sole Financial Advisor and Global Coordinator on the transaction, structuring and delivering a complex ECA-backed financing solution that establishes a new source of long-term foreign currency funding.
The financing was supported by a group of leading international financial institutions, comprising Santander CIB, Standard Chartered Bank, and UBS. The financing includes ECA support in connection with the export of equipment and services provided by GE Vernova. Proceeds from the financing support a large-scale power generation project in the Kingdom, aligned with Saudi Arabia’s energy transition strategy.
The transaction represents a number of important milestones for the broader Saudi financing landscape, including the first on-lending structure at this scale across the region, demonstrating the scalability and effectiveness of this financing model.
This milestone underscores the continued evolution of the Saudi financing landscape – broadening access to global liquidity pools and reinforcing the Kingdom’s position as a key destination for structured and ECA-supported financing solutions.
Commenting on the transaction, Maher Roz, Head of Corporate Finance at SNB Capital, said: “This transaction represents a significant milestone, establishing access to on-Lending ECA-backed financing as a new and strategic funding channel. It also highlights the growing role of structured financing solutions in enabling long-term, competitive funding for large-scale infrastructure and energy transition projects in the Kingdom.”
The successful execution of this transaction further demonstrates SNB Capital’s ability to originate and deliver complex structured financing solutions, strengthening its position as a trusted financial advisor on landmark transactions across the region.
Ministry of Environment, Water and Agriculture Launches the “Namaa” Endowment Fund and Appoints SNB Capital as Fund Manager
The Ministry of Environment, Water and Agriculture has launched the “Namaa” Endowment Fund, an investment fund offered through a public offering and compliant with Sharia standards, with its units endowed to support nonprofit entities operating across the Kingdom’s environment, water, and agriculture ecosystem.
SNB Capital has been appointed as the fund manager, in a step that reinforces its pivotal role in developing the endowment sector by contributing to its transformation into a sustainable investment model.
The launch of the “Namaa” Endowment Fund aligns with the objectives of Vision 2030, as it aims to increase the contribution of the nonprofit sector to GDP and support the sustainability of the environment, water, and agriculture ecosystem. It also aims to channel capital toward environmental and developmental projects with measurable impact by preserving the endowment’s capital and reinvesting its returns.
This initiative reflects SNB Capital’s commitment to advancing the endowment sector through modern financial management tools that improve efficiency, reinforce economic impact, and deliver sustainable value in line with the goals of Saudi Vision 2030.
