Fitch affirms BBK

Fitch Ratings said it affirmed BBK's long-term issuer default rating at BBB- with a stable outlook, short-term issuer default rating at F3, viability rating at bb+, support rating at 2 and support rating floor at BBB-.

The agency said BBK's issuer default ratings and support rating reflect Fitch's view of a high probability of support from the Bahraini authorities if required, given its importance to the banking system and its 32% ownership by the government.

The ratings are, therefore, sensitive to any change in the creditworthiness of the sovereign or Bahrain's propensity to support BBK, the agency said.

The stable outlook reflects the outlook on Bahrain's sovereign ratings.

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