Moody's takes actions on four Bahraini banks
Moody's Investors Service has today taken actions on National Bank of Bahrain, BBK, BMI Bank and Bahrain Islamic Bank. The ratings agency has confirmed that National Bank of Bahrain (NBB) and BBK received Baa2/Prime-2 deposit and senior debt ratings, with a negative outlook. Regarding BMI Bank, Moody's has extended the review for downgrade on the bank's Ba1 deposit rating, and affirmed the bank's standalone E+ bank financial strength rating (BFSR) with a stable outlook, equivalent to a baseline credit assessment of b1. In addition to these actions, Moody's has also extended the review for downgrade on all the ratings of Bahrain Islamic Bank (BIsB) to reflect its extensive capital needs and ongoing uncertainties around the recapitalisation of the bank.
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