VOL. XLV

No 40

7-October-2002

BAHRAIN

Capital Intelligence Downgrades TAIB Bank

Ratings agency Capital Intelligence(CI), has downgraded the long and short-term foreign currency ratings of TAIBBank, a Bahrain-based investment bank which specializesin corporate finance, asset management, brokerage, real estate and treasuryservices, to BB+ long-term and B short-term from BBB-/A3. CI noted thatfor the first six months of 2002, TAIB recorded a loss of $6.6mn, which isthe result mainly of the decline...