Friday 1 July 2016
 
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Dar Al Arkan gets key ratings downgrade

Moody's Investors Service has downgraded the corporate family rating of Dar Al Arkan Real Estate Development Company (Daar) to B1 from Ba3 and the company's probability of default rating (PDR) to B1-PD from Ba3-PD. The out

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S&P cuts large oil producers’ credit ratings

Rating agency Standard & Poor's downgraded Saudi Arabia, Brazil Kazakhstan, Bahrain and Oman's credit ratings on Wednesday, in its second mass cut of large oil producers in almost exactly a year. S&P cited the pres

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Mideast/Africa vulnerable to downgrades: Fitch

Emerging markets face another wave of ratings downgrades next year, with the Africa/Middle East region potentially given a 'negative outlook' and Brazil at risk of a cut to junk, Fitch Ratings' top sovereign analyst said in an interv

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Saudi downgrade may lead to Gulf debt repricing

A downgrade of Saudi Arabia's sovereign debt by Standard and Poor's at the weekend may contribute to a gradual repricing of the Gulf's international bonds to lower levels as they reflect risks created by low oil prices.

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S&P downgrade unjustified, says Saudi finance ministry

A decision by Standard & Poor's to cut Saudi Arabia's credit ratings is unjustified and ignores the strength of the kingdom's economy, the Saudi finance ministry said in a statement on Saturday. "The Ministry

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Steel demand forecast drops on China slowdown

The World Steel Association has downgraded its previous short-range outlook for apparent steel usage on the back of the slowdown in the Chinese market as well as in South America and CIS, the association said. At its annual meetin

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Top Bahraini banks face possible downgrade

Moody's Investors Service said it has placed four Bahraini banks - National Bank of Bahrain (NBB), BBK, BMI Bank and Bahrain Islamic Bank (BIsB) - on review for possible downgrade of its deposit, issuer and senior debt ratings.

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Moody's downgrades top Dubai banks

  Moody's ratings agency has downgraded by one notch each the long-term debt and deposit ratings of Emirates NBD, Mashreqbank and Commercial Bank of Dubai, while the issuer and long-term debt ratings of a fourth lender Dubai

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Fitch downgrades Egypt credit ratings

Fitch Ratings has downgraded Egypt's sovereign credit rating deeper into junk status citing the rising political crisis after the nation's Supreme Constitutional court annulled parliamentary elections. The rating, cut by one notch

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Stiff competition 'may hit Batelco revenue'

Batelco, the leading telecom service provider in Bahrain, could continue to face stiff competition, resulting in a decline in its domestic revenue, Global Investment House said, downgrading the stock to 'buy' from 'strong buy'.

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