Moody's has also assigned an A3 foreign currency debt rating to BBK's upcoming Subordinated Lower Tier II Notes to be issued under this programme. These ratings all carry stable outlooks.
According to Moody's, BBK's foreign currency debt ratings are based on the bank's stand-alone financial strength but also on the rating agency's assessment of a very high likelihood of systemic support for the bank from Bahrain in case of need. This assessment reflects BBK's position as one of the top three commercial banks in Bahrain with prominent positions
in a range of corporate and retail businesses.
BBK is headquartered in Manama, Bahrain, and at the end of December 2006 had total assets of BD1.69 billion (US$4.49 billion).
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Moody's assigns A3 rating to BBK's (Bahrain) upcoming Subordinated Lower Tier II notes
- Bahrain: Tuesday, June 05 - 2007 at 15:05
- PRESS RELEASE
Moody's Investors Service has assigned A2 and A3 foreign currency debt ratings to BBK's USD1.0 billion EMTN programme, for Senior Unsecured and Subordinated Notes, respectively.
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Notes and media contacts
LondonAdel Satel
Managing Director
Financial Institutions Group
Moody's Investors Service Ltd.
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
Limassol
George Chrysaphinis
Asst Vice President - Analyst
Financial Institutions Group
Moody's Investors Service Cyprus Limited
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
Posted by Lara Lynn Golden, News EditorTuesday, June 05 - 2007 at 15:05 UAE local time (GMT+4)
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