CBB wel­comes top Bahrain rat­ing

The Pak Banker - - Company& -

MANAMA: The Cen­tral Bank of Bahrain (CBB) has wel­comed a new global vote of con­fi­dence for Bahrain's eco­nomic per­for­mance and man­age­ment of the do­mes­tic econ­omy. Fitch rat­ing agency af­firmed Bahrain's long-term for­eign and lo­cal cur­rency Is­suer De­fault Rat­ings (IDRs) at 'A' and 'A+' re­spec­tively. The agency said Bahrain's out­look on the long-term IDRs was sta­ble.

"The sta­ble out­look re­flects the con­tin­ued re­silience of the econ­omy and the bank­ing sec­tor to the stresses from the global down­turn and re­gional prop­erty mar­kets over the last two years," said the agency's re­port. "As the king­dom's cen­tral bank and reg­u­la­tor of Bahrain's in­ter­na­tional fi­nan­cial cen­tre, the CBB wel­comes global votes of con­fi­dence for Bahrain's con­tin­ued eco­nomic suc­cess," said CBB Gover­nor Rasheed Al Maraj. " -PB News

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