VOL. XLV

No 23

10-June-2002

BAHRAIN

CapitalIntelligence Downgrades BMB Investment Bank

Internationalrating agency Capital Intelligence says it has downgraded the long-term foreigncurrency rating of BahrainsBMB Investment Bank to B+ from BB. The bankwas previously downgraded to BB in May 2001. The short-term rating remains atB. BMB was established in 1982 as a Bahrain-incorporated offshorebanking unit and focuses on investment banking activities and developingstructured products for distribution...