Friday 3 July 2015
 
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Standard & Poor

S&P downgrades oil producer Afren

Standard & Poor's downgraded Afren, becoming the second major ratings agency to warn of the oil producer's imminent default.   Afren has lost more than 90 per cent of its market value, or about 1.5 bi

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S&P warns Britain over credit rating

Standard & Poor's has warned Britain that worse-than-expected economic growth or slow progress in fixing its budget deficit could cost the country its top-notch credit rating. S&P affirmed the UK's AAA sovereign cr

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Gulf International Bank gets stable outlook

Standard & Poor's (S&P) has affirmed Bahrain-based Gulf International Bank's (GIB) long-term and short-term counterparty credit ratings at BBB+ and A-2 respectively with a stable outlook. S&P said in its report that the

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Unrest credit issue for Oman, Bahrain says S&P

Standard & Poor's Ratings Services said the ongoing political tensions in Bahrain (BBB/Watch Neg/A-3) and Oman (A/Watch Neg/A-1) remain a significant issue for the credit standing of both sovereigns. This is despite the Gulf Co-operati

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S&P revises Dubai Islamic Insurance ratings

Standard & Poor’s has revised the credit ratings of Dubai Islamic Insurance and Reinsurance Company (Aman) from negative to stable with an affirmative ‘BBB’ long-term counterparty credit and insurer financial strength ratings. Aman'

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S&P downgrades Aldar ratings

Standard & Poor's (S&P) ratings services has lowered its long-term corporate credit rating on Abu Dhabi-based property company Aldar Properties to 'B' from 'BB'. S&P also said that it had placed th

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S&P cuts Dubai free zone rating

Standard & Poor's rating agency has downgraded Dubai's Jebel Ali Free Zone's (Jafza) credit rating on Monday, citing uncertainty over its role in the debt restructuring of its parent company, Dubai World. State-ow

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Gulf International Bank gets stable outlook

Standard & Poor's (S&P) has affirmed Gulf International Bank’s BBB+ long-term counterparty credit rating with a stable outlook. It has also affirmed the bank’s A-2 short-term counterparty credit rating. Bahrain-based GIB i

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DIFC Investments in $1 billion revamp

DIFC Investments, part of the group which operates Dubai's tax-free business hub, has begun a $1 billion-plus restructuring plan to divest non-core investments by the end of 2011, ratings agency Standard & Poor's said on Monday. S&

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Gulf investment firms 'need major changes'

Some investment companies in the Gulf will likely find it difficult to pursue their operations without dramatic changes in the wake of the global financial downturn, said Standard & Poor's Ratings Services. "The main reasons behind thi

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