Research Update: Bahrain's Arab Banking Corp 'BBB-/A-3' Ratings Affirmed On Bank Criteria Change, Remain On CreditWatch Negative Dec 11
- Language: English
- Published: December 2011
- Region: Bahrain
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
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
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.
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Arab Banking Corp. B.S.C.