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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Moody’s downgrades Bahrain Islamic Bank

Posted on 09 March 2012

Moody’s has downgraded Bahrain Islamic Bank’s (BisB) supported issuer ratings to Ba3/Not-Prime from Ba1/Not-Prime. In addition, Moody’s confirmed the Bank Financial Strength Rating of BisB at E+, but changed its mapping on the long-term scale to B3 from B1. All ratings carry a negative outlook.
The ratings agency said that re-mapping of the BCA to B3 from B1 reflects: (i) The recently aborted merger with Al-Salam Bank (ASBB). The bank faces renewed uncertainty regarding its future capital position………………………………………..Full Article: Source

 
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