Fitch revises Investcorp Bank view to stable

Fitch Ratings said it affirmed Investcorp Bank BSC's long-term issuer default rating at BB and its viability rating at bb.

The outlook was revised to stable from positive.

“The outlook revision reflects the limited observed progress on Investcorp's strategic partnership with Mubadala Development Co. (Mubadala), which acquired a 20% equity stake in the company in March 2017, an expectation that if this partnership were to gain momentum in the future, it would likely take some time to materialize, as well as the increasingly competitive alternative investment and credit environments, which could affect Investcorp's ability to originate/syndicate investments and/or the valuation of balance sheet co-investments,” the agency said in a news release.

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