IslamicFinance.de

Capital Intelligence (CI) said that following the recent downgrade in the Kingdom of Bahrain’s Sovereign Ratings in September 2015, it has lowered Bahrain-based Al Baraka Islamic Bank’s (AIB) Long and Short-Term Foreign Currency Ratings to ‘BB’ and ‘B’, respectively (from ‘BB+’/‘A3’/‘Stable’). Accordingly, the Outlook for these ratings is revised to ‘Stable’ from ‘Negative’. The Support Level of ‘2’ is maintained on the grounds of the high likelihood of support from the parent ‘Al Baraka Banking Group’ (ABG), also in Bahrain.