Fitch rating agency downgraded Long-term Issuer Default Ratings (IDRs) of both the National Bank of Bahrain and also the Bank of Bahrain and Kuwait to “BBB-” from “BBB”, with a future stable outlook.

However, Ahli United Bank was affirmed at “BBB+”, with a stable outlook.

The report issued by Fitch explained that “AUB's IDR has been affirmed as Fitch considers there has been no material change in the willingness or ability of AUB's core shareholder to support the bank.”