Fitch affirms BBK, Ahli United Bank

Fitch Ratings said it affirmed the ratings of BBK BSC and Ahli United Bank BSC.

The banks' ratings were removed from Rating Watch negative.

BBK's long-term issuer default rating was affirmed at BBB-, short-term issuer default rating at F3, viability rating at BB+, senior unsecured debt rating at BBB- and subordinated debt rating at BB+.

Ahli United Bank's long-term issuer default rating was affirmed at BBB+, short-term issuer default rating at F2, viability rating at BBB+, senior unsecured debt rating at BBB+ and subordinated debt rating at BBB.

The outlook for both banks is stable.

The affirmations follow the affirmation of Bahrain's sovereign ratings, Fitch said.

The banks' issuer default ratings are driven by Bahrain's sovereign ratings, the agency said.

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