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Bahrain-based Gulf Finance House placed on CreditWatch negative

Posted on 15 January 2010

From Globalarabnetwork.com: Standard & Poor’s Ratings Services lowered its long-term counterparty credit rating on Bahrain-based Gulf Finance House G.S.C. (GFH) to ‘B+’ from ‘BB+’ and affirmed its ‘B’ short-term rating. In addition, S&P has placed both the long- and short-term ratings on CreditWatch with negative implications.

“The rating action reflects our more negative assessment of the bank’s funding and liquidity position as well as its ability to implement its revised business model to boost revenues,” said Standard & Poor’s credit analyst Goeksenin Karagoez………………………………….Full Article: Source

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