Bahrain Islamic Bank had its credit ratings cut to junk at Moody’s Investors Service because of losses and after political unrest in the Arabian Gulf nation.
The Sharia-compliant lender’s long- and short-term ratings were lowered two levels to Ba1/Non-Prime, the highest non- investment grade, from Baa2/Prime-3, the rating agency said in an e-mailed statement today. The ratings will remain on review for further possible cut……………………………………….Full Article: Source