Fitch Ratings has upgraded Jebel Ali Free Zone FZEs (JAFZ) long-term issuer default rating (IDR) to BBB from BBB- with a stable outlook. Fitch has also upgraded JAFZ Sukuk (2019) Limited’s senior unsecured rating to BBB from BBB-. The rating…
Tag: Fitch
Fitch affirms Abu Dhabi at AA
For full coverage of Middle East events see MEED Fitch Ratings announced today that it has affirmed Abu Dhabi’s long-term foreign and local currency issuer default ratings (IDR) at AA with stable outlooks. The issue ratings on Abu Dhabi’s senior…
Fitch affirms QNB’s rating
Fitch Ratings has affirmed Qatar National Bank’s (QNB’s) long-term issuer default rating (IDR) at AA- with a stable outlook and has placed QNB’s viability rating (VR) of a on rating watch negative (RWN) following QNB’s proposed acquisition of Finansbank. The…
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…
Saudi bank lending to grow 7-8 per cent in 2016: Fitch
Fitch Ratings says in a new special report that the tougher domestic operating environment is putting pressure on the Saudi banking sector outlook. “The performance and financial metrics of the Saudi banks remained sound in the first half of 2015,…
Fitch affirms ratings of five Bahrain banks
For full coverage of business developments in the Middle East, see MEED Fitch Ratings has affirmed National Bank of Bahrain’s (NBB’s), BBK’s and Arab Banking Corporation’s (ABC’s) long-term issuer default ratings (IDRs) at BBB-. Fitch has also affirmed Ahli United…
Fitch Affirms Abu Dhabi at AA
Fitch Ratings has affirmed Abu Dhabi’s Long-term foreign and local currency Issuer Default Ratings (IDR) at AA. The issue ratings on Abu Dhabi’s senior unsecured foreign and local currency bonds have also been affirmed at AA. The Outlooks on the…
Fitch affirms AA rating for Kuwait
Fitch Ratings has affirmed Kuwait’s long-term foreign and local currency Issuer Default Ratings (IDR) at AA with a stable outlook. The country ceiling has been affirmed at AA+ and the short-term foreign currency IDR at F1+. Fitch says Kuwait’s ratings…
Fitch downgrades Bahrain’s foreign currency rating
Fitch Ratings has downgraded Bahrain’s long-term foreign currency issuer default rating (IDR) to BBB- from BBB and long-term local currency IDR to BBB from BBB+. The outlooks are stable. The issue ratings on Bahrain’s senior unsecured foreign and local currency…
Fitch affirms Bahrain at BBB with stable outlook
Fitch Ratings today affirmed Bahrain’s long-term foreign currency issuer default rating (IDR) at BBB and local currency IDR at BBB with a stable outlook. The issue ratings on Bahrain’s senior unsecured foreign and local currency bonds have also been affirmed…