S&P affirms Al Baraka

Standard & Poor's said it affirmed its BBB-/A-3 long- and short-term counterparty credit ratings on Al Baraka Banking Group BSC and removed them from CreditWatch, where they had been placed with negative implications on Feb. 22.

The outlook is negative.

The CreditWatch resolution and ratings affirmation reflect the easing of political and economic tensions compared with the first half of the year in countries where the banking group operates, as well as its resilience to the impaired operating environment caused by those tensions, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.