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Bahrain's Arab Banking Corp. Ratings Affirmed At 'BBB-/A-3', Outlook Stable; Off Watch Jan 12
Standard & Poors, Jan 2012
Abstract
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. PARIS (Standard...
Companies mentioned in this report are: Arab Banking Corp. B.S.C.
Action: Affirmed
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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