Thursday 02, January 2014 by Matthew Amlôt

Fitch Ratings Upgrades BBK’s Long-Term Issuer Default Rating to ‘BBB’ from ‘BBB-’

Fitch Ratings has upgraded the bank’s Long-Term Issuer Default Rating (LT IDR) to ‘BBB’ (with a ‘stable’ outlook) from ‘BBB-’, and has revised its Support Rating Floor (SRF) to ‘BBB’ from ‘BBB-’. The subordinated debt rating of BBK has also been upgraded by one notch, mirroring the upgrade of the bank’s LT IDR. The rating actions follow a periodic review by Fitch of Bahraini banks.

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