MANAMA: Bank ABC, headquartered in Bahrain, has announced that the technical rating action due to Fitch Ratings’ downgrade of Bahrain’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B+’ from ‘BB-’, will not lead to imminent pressure on the bank’s funding or pricing, due to its resilient balance sheet position and consistent growth strategy.
Bank ABC was previously rated by Fitch at BBB-, recognised to be an international wholesale bank, but noted to be at Fitch’s maximum limit of three notches above the sovereign rating .