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BAHRAIN: MOODY'S DOWNGRADES INVESTCORP TO BA2/NP/D.

Publication: IPR Strategic Business Information Database
Publication Date: 29-SEP-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Moody's Investors Service has today downgraded the long-term deposit ratings of Investcorp Bank B.S.C. ("Investcorp") to Ba2 from Ba1 and its bank financial strength rating (BFSR) to D from D+. The ratings of its subsidiary, Investcorp S.A., were downgraded to the same level. Moody's also assigned a negative outlook to the bank's ratings. Today's downgrade concludes Moody's review of Investcorp's ratings, which was initiated in November 2008. At the time, Moody's downgraded Investcorp by one notch to Baa3/Prime-3/D+ and subsequently downgraded further to Ba1/Not-Prime/D+ in May 2009, with the ratings remaining on review for further possible downgrade. Moody's explains that this latest rating...

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