Research Update: Al Baraka Banking Group Ratings Affirmed At 'BBB-/A-3' On Bank Criteria Change; Outlook Negative Dec 11

Standard & Poors, December 2011

Abstract
Following a review under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have affirmed our long- and short-term 'BBB-/A-3' ratings on Bahrain-based Al Baraka Banking Group B.S.C. (ABG). Our ratings on ABG reflect the bank's 'bb' anchor, as well as our view of the group's strong business position, moderate capital and earnings, strong risk position, average funding, and strong liquidity, as our criteria define these terms. The negative outlook reflects our expectation that the combination of a strain on asset quality, amid the sustained global downturn, and steady growth may impair the group's risk position or capitalization over the next one to two years. As previously announced on Dec. 14, 2011, Standard & Poor's Ratings Services...

Companies mentioned in this report are: Al Baraka Banking Group B.S.C.
Action: Affirmed
Action: Outlook: Negative

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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

Al Baraka Banking Group B.S.C.

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