VOL. XLV

No 45

11-November-2002

BAHRAIN

Capital Intelligence Downgrades Bahrains BMB Investment Bank

Ratings agency Capital Intelligence (CI) said on 6 November that it had downgraded the long and short-term foreign currency ratings of BMB Investment Bank, the Bahrain incorporated offshore investment bank, to C+ and C respectively with a negative outlook. The agency previously downgraded the bank to B+ and B in May due to tightened liquidity, higher leverage and continued losses. BMBs funding and...