VOL. XLI

No. 25

22-June-1998

BAHRAIN

S&P Affirms ABC Rating At BBB-

US credit rating agency Standard and Poor's (S&P) confirmed its BBB- investmentgrade rating of Arab Banking Corporation (ABC) on 17 June. S&P adduced ABC's strongshareholders and the improvement in the bank's non-performing loan portfolio, which is nowmore than 90% covered, as supporting the rating. The agency also said that the success ofa recent five year facility has gone some way to relieve ABC's reliance on...