S&P lowers Mumtalakat view to negative

Standard & Poor’s said it revised the outlook on Mumtalakat Holding Co. to negative from stable.

The agency also said it affirmed the company’s BBB/A-2 long- and short-term foreign- and local-currency issuer credit ratings.

The ratings are based on equalization with the ratings on the Kingdom of Bahrain, reflecting the almost certain likelihood that the government of Bahrain would provide timely and sufficient extraordinary support to Mumtalakat in the event of financial distress, S&P said.

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