| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Albaraka Banking Group BSC > News item |
S&P alters Al Baraka view to negative
S&P said it revised its outlook on Al Baraka Banking Group BSC (ABG Parent) to negative from stable and affirmed the BB- long-term rating.
The group’s parent bank could become a nonoperating holding company. “We do not expect the group's creditworthiness to weaken, but the change to an NOHC would make ABG Parent structurally subordinated to the operating subsidiaries,” S&P said in a press release.
The outlook indicates a possibly lower rating to ABG Parent once its status changes from a wholesale bank to an NOHC under conditions that increase its reliance on subsidiaries to meet its financial obligations, the agency said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.