Moody's places 12 GCC banks' debt on review
- Middle East: Saturday, March 09 - 2013 at 05:44
Moody's Investors Services has said the subordinated debt rating of 12 banks in the GCC have been placed on review for possible downgrade, Muscat Daily has reported. The affected banks include Bank Muscat, Arab National Bank, Banque Saudi Fransi, Abu Dhabi Commercial Bank, Emirates NBD, First Gulf Bank, Mashreqbank, Commercial Bank of Qatar, Doha Bank, Qatar National Bank, Burgan Bank, and BBK. Moody's added that all other ratings and outlooks for these 12 banks remain unaffected. "The purpose of the ratings review is to assess the evolving risk profile of these subordinated debt instruments given (i) the recent global and prudential trends toward imposing losses on junior creditors in the context of government support, and (ii) the implementation of Basel III, which will require Tier 2 instruments to have 'loss-absorption' features," Moody's said.
- Android, Windows Phone market share rise, iOS ,...
- Airlines alerted about a B777 engine problem
- Emirates to deploy A380 on the Brisbane,...
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.