Fitch cuts Investcorp

Fitch Ratings said it downgraded the long- and short-term issuer default ratings of Investcorp Bank BSC and its subsidiaries Investcorp SA and Investcorp Capital Ltd. to BBB- and F3.

The individual ratings were downgraded to C from B/C. Ratings remain on Rating Watch negative.

According to Fitch, the downgrade reflects the continued deterioration in Investcorp's capital cushion and materially weaker earnings.

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