Leading international ratings agency Standard & Poor's says it has placed two Bahrain-based insurers on "CreditWatch Negative," citing the mass unrest that prompted the earlier downgrade of the Gulf nation's sovereign rating.
S&P said Thursday the moves affected the ratings of the Bahrain Kuwait Insurance Co. and Takaful International Co. BSC.
Other ratings agencies have also recently either downgraded or put on review ratings for Bahrain and banks within the country as the mass protests that led to the ouster of Tunisia and Egypt's leaders spread throughout the Arab world.
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