S&P alters Bahrain Mumtalakat view to negative

S&P said it revised its outlook on Bahrain Mumtalakat Holding Co. to negative from stable and affirmed its B+ long-term foreign and local-currency issuer credit ratings on the company.

The outlook revision on Mumtalakat follows similar action on Bahrain, S&P said.

“We equalize our ratings on Mumtalakat with those on Bahrain because we see an almost certain likelihood that the government of Bahrain would provide timely and sufficient extraordinary support to Mumtalakat in the event of financial distress,” the agency said in a press release.

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