Middle East Economic Survey
VOL. LII
No 15
13-Apr-2009
Bahrain
Fitch Upgrades GIB Rating On Sale Of Securities
The announced purchase of $4.8bn of non-core investment securities by shareholders of Bahrains Gulf International Bank (GIB) was reflected in a Fitch Ratings credit rating agency affirmation of its long-term issuer default rating at A with a stable outlook, and an upgrading of the banks individual rating to C/D from D. Fitch also affirmed GIBs short-term rating at F1 and subordinated debt...
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