Fitch rates CBB International trust certs A

Fitch Ratings said it assigned CBB International Sukuk Co. $350 million trust certificates due 2013 a final A senior unsecured rating. CBB is wholly owned by the Central Bank of Bahrain with the sole purpose of participating in this transaction.

The rating reflects Fitch's judgment that the sukuk can be considered an unconditional, unsubordinated and general obligation of the Kingdom of Bahrain, ranking equally with Bahrain's other senior unsecured obligations.

Therefore, the agency said the rating is in line with Bahrain's long-term foreign-currency issuer default rating of A with a stable outlook.

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