From Globalarabnetwork.com: Standard & Poor’s Ratings Services today said it has lowered its long- and short-term counterparty credit ratings on Bahrain-based Gulf Finance House G.S.C. (GFH) to ‘BB+/B’ from ‘BBB-/A-3′. The outlook is negative.

“The rating action reflects our opinion that GFH’s stand-alone credit profile is no longer consistent with an investment-grade rating owing to uncertainties on the bank’s implementation of its revised business model and delivery of sustainable profitability,” said Standard & Poor’s credit analyst Goeksenin Karagoez……………………………Full Article: Source