OREANDA-NEWS. Fitch Ratings has assigned Burgan Senior SPC Limited's (BSPC) USD1.5bn EMTN programme 'A+'/'F1' ratings.

BSPC is special purpose company wholly owned by Burgan Bank (Burgan, A+/F1/Stable), set up solely for the purpose of issuing notes under the programme. The proceeds of the notes will be solely used for Burgan's general corporate purposes.

The ratings of BSPC's programme are aligned with Burgan's Long- and Short-Term Issuer Default Ratings (IDR) based on Fitch's belief that Burgan will support any debt issued under the programme, if required.