Al Baraka Islamic Bank - Ratings Lowered; Outlook Remains Negative

Overview

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has lowered the Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) of Al Baraka Islamic Bank (AIB) to 'B' and 'b-', respectively, from 'B+' and 'b'. The Outlook for these ratings remains Negative. At the same time, CI Ratings has affirmed AIB's Short-Term Foreign Currency Rating at 'B', and lowered the Core Financial Strength (CFS) rating to 'b-' from 'b'. The Extraordinary Support Level (ESL) of Moderate is affirmed.

Attachments

• Rating Announcement (CRA)
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• Bank Rating Report (Bahrain, Al Baraka Islamic Bank B.S.C.)
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