Al Baraka Islamic Bank’s Ratings Affirmed
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Ref: B H 0 01 20 CRA00-01 1 September 20 2 1
Al Baraka Islamic Bank’s Ratings Affirmed
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has has affirmed Al Baraka Islamic Bank’s (AIB) Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR ) at ‘B+’ and ‘B’, respectively. At the same ti me, CI Ratings has affirmed AIB’s Bank Standalone Rating (BSR) o f ‘b’, C ore Financial Strength (C FS ) rating of ‘b’ and E xtraordinary S upport L evel (ESL) of Moderate. The Outlook on the LT FCR and BSR remains Stable.
The LT FCR is set one notch higher than the BSR given the moderate likelihood of extraordinary support from the Central Bank of Bahrain (CBB). Although we deem the Bahraini government to be willing to provide extraordinary support (despite AIB’s lack of systemic importance), its financial capacity may be limited as indicated by…