Tuesday 10, February 2009 by

Gulf International Bank downgraded

Standard & Poor's Ratings Services said it has lowered its long-term counterparty credit rating on Bahrain-based Gulf International Bank (GIB, not to be confused with Kuwait-based GIC, which it also knocked down a notch) to BBB+ from A- and put the rating on CreditWatch with negative implications. At the same time, we affirmed the A-2 short-term counterparty credit rating on the bank.

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