| Fitch Ratings has affirmed Bahrain Mumtalakat Holding Company's (Mumtalakat) Long-term Issuer Default Rating (IDR) and senior unsecured rating at 'BBB'. Fitch also affirmed Mumtalakat's Short-Term IDR at 'F3'. The Outlook on the Long-Term IDR is Stable. Mumtalakat's USD750m 5% notes, due 30 June 2015, have been also affirmed at 'BBB'.
The agency continues to apply its parent and subsidiary rating linkage methodology in rating Mumtalakat as it believes that a strong relationship exists between the company and the Kingdom of Bahrain ('BBB'/Stable/'F3'), reflecting the strong relationship between the two...............................................Full Article: Source
|