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Moody's revises outlook on 3 Bahraini lenders

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Moody's revises outlook on 3 Bahraini lenders

Moody's on Dec. 19 affirmed the B2/B3 long-term domestic- and foreign-currency deposit ratings of BBK BSC and National Bank of Bahrain BSC and the B2/B3 long-term domestic- and foreign-currency senior unsecured and issuer ratings of Bahrain Islamic Bank BSC and revised the outlook on the long-term ratings to stable from negative.

The agency said outlook revision comes after a similar action on Bahrain's sovereign ratings.

Meanwhile, Moody's also affirmed Khaleeji Commercial Bank BSC's B2/B3 long-term domestic- and foreign-currency senior unsecured and issuer ratings, with the outlook on the long-term ratings remaining negative.

Also affirmed were all four lenders' "b2" baseline and adjusted baseline credit assessments, B1(cr)/Not Prime (cr) long- and short-term counterparty risk assessments and B1/Not Prime long- and short-term domestic- and foreign-currency counterparty risk ratings, among others.