trending Market Intelligence /marketintelligence/en/news-insights/trending/LByyuhbny3yDexbCBuqh3Q2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

MEA ratings roundup through Nov. 20

Banking Essentials Newsletter - November Edition

Online Brokerage Space Should Remain Rich Source Of M&A

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


MEA ratings roundup through Nov. 20

S&P Global Market Intelligence presents a weekly overview of ratings actions on Middle Eastern and African financial institutions. Ratings actions are listed by announcement date in reverse chronological order.

Nov. 20

* Capital Intelligence Ratings affirmed Arab Banking Corp. (BSC)'s BB-/B long- and short-term foreign-currency ratings, with a negative outlook.

* Moody's affirmed Kyrgyzstan's local- and foreign-currency issuer ratings at B2, with a stable outlook.

* S&P Global Ratings affirmed Jordan Islamic Bank's long- and short-term counterparty credit ratings at B+/B, with a stable outlook.

* Fitch Ratings downgraded Namibia's long-term foreign- and local-currency issuer default ratings to BB+ from BBB-, with a stable outlook. According to the agency, Namibia's public debt-to-GDP ratio will continue to rise over the medium term, with general government debt projected to nearly double to 47% of GDP in 2019, compared with 24.8% in 2014.

* Moody's downgraded United Arab Emirates-based Al Hilal Bank PJSC's long-term issuer rating to A2 from A1 and its baseline and adjusted baseline credit assessment to "ba3" from "ba2," with the outlook on the long-term issuer rating changed to stable from negative.

Nov. 19

* S&P Global Ratings affirmed Saudi Arabia's unsolicited long- and short-term foreign- and local-currency sovereign credit ratings at A-/A-2, with a stable outlook.

Nov. 17

* Fitch affirmed the long-term foreign- and local-currency issuer default ratings of Tunisia at B+ and those of Cameroon at B. The agency affirmed both countries' short-term foreign- and local-currency issuer default ratings at B. The country ceilings of Tunisia and Cameroon were affirmed at BB- and BB+, respectively. The agency also affirmed the issue ratings on long-term senior unsecured foreign-currency bonds of Tunisia at B+ and those of Cameroon at B.

Nov. 16

* CI Ratings affirmed the long- and short-term foreign-currency ratings of Export Development Bank of Egypt (SAE) at B, with a stable outlook.

* S&P affirmed Saudi Arabia-based Islamic Corp. for the Development of the Private Sector's long-term foreign-currency issuer credit ratings at A+, with a stable outlook.

* S&P affirmed United Bank for Africa Plc's B long- and short-term foreign- and local-currency counterparty credit ratings with a stable outlook. The agency also affirmed the long- and short-term Nigeria national scale ratings of the bank at ngBBB/ngA-2, while its foreign-currency senior unsecured debt was affirmed at B.

Nov. 15

* S&P downgraded Oman United Insurance Co.'s long-term insurer financial strength and issuer credit ratings to BBB- from BBB and subsequently withdrew the ratings at the insurer's request, with the outlook remaining stable at the time of withdrawal.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.