S&P downgrades Bahrain's Al Baraka Bank to junk status | Reuters:
"Bahraini lender Al Baraka has been downgraded to junk status by Standard & Poor's, the only credit rating agency that rates the bank.
The Islamic lender's rating was reduced from BBB- to BB+ with a negative outlook on the back of increased sovereign and economic risk in the regions where it operates, S&P said in a statement.
The move follows the ratings firm's review of the sovereign credit-worthiness of some of the countries where Al Baraka operates, particularly Egypt and Jordan."
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