S&P affirms Ahli United Bank

Standard & Poor's said it affirmed the BBB long-term and A-3 short-term counterparty credit ratings on Ahli United Bank BSC and removed them from CreditWatch, where they were placed with negative implications in March.

The outlook is stable.

The action follows the affirmation of the ratings on the Kingdom of Bahrain and reflects the bank's limited exposure to Bahrain and its good resilience to the deteriorated operating environment, S&P said.

The agency said it believes the bank is somewhat insulated from Bahrain-related risks.

S&P said it took some comfort in the fact that the group holds a substantial portion of its liquidity offshore, including through its foreign subsidiaries.

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