Fitch Downgrades National Bank of Bahrain, Bank of Bahrain and Kuwait
2020-09-20 - 9:44 p
Bahrain Mirror: Fitch Ratings has downgraded National Bank of Bahrain and Kuwait B.S.C.'s (BBK) Long-Term Issuer Default Rating (IDR) to B+ from BB-. The Outlook is Stable.
Earlier this month, Fitch downgraded Ahli United Bank to BB+ with a stable outlook and downgraded ABC bank to BB+ with a stable outlook.
In August, Fitch Ratings downgraded Bahrain Mumtalakat Holding Company's (Mumtalakat) Long-Term's Issuer Default Ratings (IDRs) to B+ from BB- with stable Outlook. Fitch also downgraded the Oil and Gas Holding Company (nogaholding)'s Long-Term Foreign- and Local-Currency IDRs to B+ from BB-. The outlook is stable.
According to the agency's statement, the rating actions coincides with the reduction of the sovereign rating of the Kingdom of Bahrain on August 14th to B+ with a stable outlook.
- 2023-11-25S&P Revises Bahrain's Outlook to "Stable" on Fiscal Deficit Worries
- 2023-07-13Haj Sumoud Transferred from Dry Dock Prison to Al-Salmaniya Emergency Department after His Health Deteriorated
- 2023-06-22Bahraini Mumtalakat Buys Saudi McLaren's Stake
- 2023-05-18After Allocating $5 Billion Investment Fund, Is Bahrain Waiting New Saudi Support?
- 2022-09-21Abu Sa'afa Field Revenues Reach One Billion, 33 Million BD, Its Revenues Expected to Increase by 40% this Year