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MEA ratings roundup through June 4

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MEA ratings roundup through June 4

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.

June 4

* Capital Intelligence Ratings affirmed Blom Bank SAL's financial strength rating at BBB-, with a stable outlook.

June 1

* S&P Global Ratings affirmed Bahrain's B+/B long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook.

* S&P affirmed Nigeria-based First City Monument Bank Ltd.'s B-/B long- and short-term issuer credit ratings, with a stable outlook. The agency also affirmed the FCMB Group PLC unit's long- and short-term Nigeria national scale ratings at "ngBB+"/"ngB."

* Fitch Ratings revised the outlook on Arab Tunisian Bank's long-term foreign- and local-currency issuer default ratings to negative from stable, while affirming the ratings at BB-. The agency also affirmed the Arab Bank Group unit's short-term issuer default ratings at B, viability rating at "b," national long- and short-term ratings at AA+(tun)/F1+(tun) and support rating at 3. The bank's AA+(tun) national senior unsecured debt was also affirmed.

May 31

* CI Ratings affirmed Commercial Bank of Kuwait KPSC's financial strength rating at A-.

* CI Ratings affirmed National Bank of Kuwait SAKP's AA-/A1+ long- and short-term foreign-currency ratings.

May 30

* Fitch affirmed the Development Bank of Namibia's long- and short-term foreign- and local-currency issuer default ratings at BB+/B and national long- and short-term ratings at AA+(zaf)/F1+(zaf). The outlook on the long-term ratings is stable. Also affirmed were the bank's support rating of 3 and support rating floor of BB+.

* CI Ratings affirmed Alawwal Bank's financial strength rating at A-.

May 29

* S&P affirmed Saudi British Bank's long-and short-term issuer credit ratings at BBB+/A-2, with a stable outlook.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.