For full coverage of business developments in the UAE, seem MEED By reminding banks at the outset of the year that clearance must be obtained prior to announcing dividend payments, the UAE central bank is signalling prudence in a tougher…
Tag: Fitch Ratings
Fitch rates Burgan Bank at A+
For full coverage of Middle East business events, see MEED Fitch Ratings said today that it has assigned Kuwait-based Burgan Bank a long-term issuer default rating (IDR) of A+ with a stable outlook and a short-term IDR of F1. “Burgan’s…
Egyptian growth slows on forex, energy and tourism issues
For full coverage of Middle East business events, see MEED Foreign exchange shortages, restricted gas supplies for petrochemical producers and a slowdown in tourism activity due to security concerns in the second half of the year combined to hit trends…
Fitch outlook turns negative for NBB and BBK
For full coverage of Middle East business developments, see MEED Fitch Ratings announced today that it had revised its outlook for National Bank of Bahrain (NBB) and Bank of Bahrain & Kuwait (BBK) to negative from stable but affirmed their long-term…
Fitch forecasts Brent at $55 a barrel in 2016
For full coverage of Middle East business events, see MEED Fitch Ratings said today that it has forecast Brent blend of crude oil will average $55 a barrel next year and $65 a barrel in 2017. This compares with the Brent blend…
Fitch affirms Bahrain at BBB-/BBB, cuts outlook
For full coverage of business developments in the Middle East, see MEED Fitch Ratings has affirmed Bahrain’s long-term foreign and local currency issuer default ratings (IDR) at Fitch Ratings BBB- and BBB, respectively. The issue ratings on Bahrain’s senior unsecured…
Fitch affirms Kuwait at AA
For full coverage of Middle East business developments, see MEED Fitch Ratings has affirmed Kuwait’s long-term foreign and local currency issuer default ratings (IDR) at AA. The outlooks are stable. The country ceiling has been affirmed at AA+ and the…
Dolphin energy rating affirmed
For full coverage of Middle East business, see MEED Fitch Ratings has affirmed Dolphin Energy Limited’s (DEL’s) $1,250m 5.888 per cent secured bonds due 15 June 2019 and $1,300m 5.5 per cent secured bonds due 15 December 2021 at A+.…
Jebel Ali Free Zone gets positive outlook from Fitch Ratings
For full coverage of business developments in the Middle East, see MEED. Fitch Ratings has revised Jebel Ali Free Zone’s (JAFZ’s) outlook to positive from stable and affirmed its long-term Issuer Default Rating (IDR) at BBB-. Fitch has also affirmed…
Fitch lifts DP World’s outlook on higher cash flow margins and acquisitions
Fitch Ratings has revised UAE-based port operator DP World’s (DP World’s) outlook to positive from stable and affirmed its long-term issuer default rating (IDR) at BBB-. Fitch has also affirmed DP World’s senior unsecured rating at BBB- and its short-term…