Sunday 1 March 2015
 
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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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Fitch affirms GIB's long-term ratings

Fitch Ratings has affirmed Gulf International Bank's (GIB) long-term issuer default ratings (IDRs) at 'A' and the viability rating (VR) at 'bbb-'. The outlook for the long-term IDR is stable, said a report in

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Key international ratings boost for Al Baraka

Dagong Global Credit Rating Company and Islamic International Rating Agency (IIRA) have jointly assessed the international scale credit rating of Al Baraka Banking Group (ABG) at 'BBB+/A3' (Triple B Plus / A Three). In add

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Al Hilal Bank’s rating upgraded by Fitch

Al Hilal Bank, an Abu Dhabi based Islamic bank, has announced that its viability rating (VR) has been upgraded by global rating agency Fitch Ratings. Fitch has also affirmed the long-term and short-term issuer default ratings (IDR

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BMI Bank's business 'is robust and profitable'

BMI Bank chief executive Jamal Al Hazeem has reiterated the bank continues to have a robust and profitable core business. "We continue to maintain an excellent capital adequacy ratio of over 15 per cent with very strong liquidity,&

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Abu Dhabi Kizad wins 4-star excellence rating

Khalifa Industrial Zone Abu Dhabi (Kizad), the new industrial and logistics zone in the UAE capital situated next to the Khalifa Port, has been awarded the 4-star excellence rating by the European Foundation for Quality Management (EFQM).

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Emaar's retail spin-off plan 'won't affect rating': S&P

Standard & Poor's plans no rating action relating to Dubai's Emaar Properties after the emirate's largest listed developer announced plans to spin off its retail unit, an analyst covering the company said on Monday.

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S&P upgrades Emaar corporate credit ratings

The long-term corporate credit rating on Emaar Properties, a leading developer, has been upgraded by Standard & Poor’s Rating Services to ‘BBB-’ from ‘BB+’ with a stable outlook. The rating reflec

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SABB gets Fitch ratings boost

Fitch Ratings, a leading rating agency, has affirmed the Saudi British Bank’s (SABB) long term credit rating at “A” with a stable outlook. The ratings affirmation and outlook revision reflects SABB’s financ

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Bahrain urged to curb public debt

Bahrain must drastically curb and reduce public debt - or face a potential crisis. This warning has come in the audit report, which fears an international ratings downgrade if swift action is not taken. The National Audit Office R

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