Middle East Economic Survey
VOL. LIII
No 7
15-Feb-2010
BAHRAIN
S&P Downgrades GFH After $100mn Loan Extension
Bahrain-based Islamic investment firm Gulf Finance House (GFH) has successfully struck a deal to delay the repayment of one third of a $300mn loan by six months, narrowly avoiding a default, it said 10 February. The $300mn murabaha loan was replaced with a six-month $100mn facility, set to mature on 10 August, with GFH having already repaid $200mn. As a result, the firm was downgraded...
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