Mubasher: Bank of Bahrain and Kuwait (BBK) has confirmed reports on Fitch Ratings downgrading the bank’s outlook to “Negative” from “Stable”.
This revision follows Fitch’s similar action downgrading the outlook of the Bahraini sovereign rating to “Negative” from “Stable,” Bahrain Bourse cited a statement issued by the bank.
Fitch’s rating on the Bahraini bank was due to expectations of 12.5% increase in budget deficit in 2015 comparing to 5.5% in 2014.
