Bahrain-Based Arab Banking Corp Downgraded To 'BBB-/A-3' And Kept On Watch Neg On Uncertainties In Libya And Bahrain
- Language: English
- Published: March 2011
- Region: Bahrain, Libya
We believe the ongoing political and institutional transition in Libya has lessened risks for Bahrain's Arab Banking Corp (ABC), which is majority owned by the Central Bank of Libya. The bank has proved resilient to the recent stress period. The recent appointment of the new governor of the Central Bank of Libya as chairman of the board of ABC reduces the governance and reputational risks the bank is facing, in our view. Therefore, we are affirming our 'BBB-/A-3' ratings on ABC and removing them from CreditWatch negative where we placed them on March 21, 2011. The stable outlook reflects the bank's strong liquidity and very strong capitalization, and the potential downside risks to its business and risk positions. On Jan....
Companies mentioned in this report are: Arab Banking Corp. B.S.C.
Action: Removed From CreditWatch
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Arab Banking Corp. B.S.C.