Fitch affirms BBK

Fitch Ratings said it affirmed BBK's long-term issuer default rating at A- with stable outlook, short-term issuer default rating at F2, individual rating at C, support rating at 1 and support rating floor at A-.

The ratings reflect the high probability that the bank would receive financial support, if needed, given its significant local deposit market share, the government of Bahrain's 32% indirect ownership and authorities' ability to maintain confidence in a relatively small banking system, Fitch said.

The ratings also reflect BBK's good domestic franchise, satisfactory profitability, improving asset quality and adequate liquidity and capitalization, the agency added.

They also consider the bank's market risk exposure and reliance on a relatively small and increasingly competitive domestic market, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.