Downgraded Bahrain banks to find funding expensive | GulfNews.com

Downgraded Bahrain banks to find funding expensive | GulfNews.com:

Rating agency Moody’s Investors Service has downgraded four Bahraini banks in line with its recent downgrade of the Government of Bahrain’s issuer rating to B2 from B1 with negative outlook.

In its latest rating action, the rating agency downgraded the long-term local currency deposit ratings of Bank of Bahrain and Kuwait (BBK) to B2 from B1, and National Bank of Bahrain (NBB).

At the same time, Moody’s has downgraded the long-term local currency issuer ratings of Bahrain Islamic Bank (BISB) and Khaleeji Commercial Bank (KHCB) from B1 to B2.