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DIFC Investments, Emaar ratings downgraded over Covid crisisThe ratings of three major Dubai-based real estate development companies - DIFC Investments, Emaar Properties, and its retail subsidiary Emaar Malls - have been downgraded on increased economic pressures stemming from the spread of Covid-19 pa More… |
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Five GCC banking systems downgraded over Covid-19, says reportTop ratings agency Moody's has changed its outlook to negative from stable for five GCC banking systems of Saudi Arabia, UAE, Kuwait, Qatar and Bahrain because of the oil price collapse and coronavirus outbreak. &n More… |
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Turkey construction forecast may be downgraded over Covid-19Turkey's output in construction industry was expected to increase by 3.2 per cent this year following a deep contraction of 9.2 per cent in 2019. However, the forecast is likely to be downgraded due to Covid-19, said a report. More… |
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Dar Al Arkan gets key ratings downgradeMoody's Investors Service has downgraded the corporate family rating of Dar Al Arkan Real Estate Development Company (Daar) to B1 from Ba3 and the company's probability of default rating (PDR) to B1-PD from Ba3-PD. The out More… |
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S&P cuts large oil producers’ credit ratingsRating agency Standard & Poor's downgraded Saudi Arabia, Brazil Kazakhstan, Bahrain and Oman's credit ratings on Wednesday, in its second mass cut of large oil producers in almost exactly a year. S&P cited the pres More… |
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Mideast/Africa vulnerable to downgrades: FitchEmerging markets face another wave of ratings downgrades next year, with the Africa/Middle East region potentially given a 'negative outlook' and Brazil at risk of a cut to junk, Fitch Ratings' top sovereign analyst said in an interv More… |
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Saudi downgrade may lead to Gulf debt repricingA downgrade of Saudi Arabia's sovereign debt by Standard and Poor's at the weekend may contribute to a gradual repricing of the Gulf's international bonds to lower levels as they reflect risks created by low oil prices. More… |
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S&P downgrade unjustified, says Saudi finance ministryA decision by Standard & Poor's to cut Saudi Arabia's credit ratings is unjustified and ignores the strength of the kingdom's economy, the Saudi finance ministry said in a statement on Saturday. "The Ministry More… |
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Steel demand forecast drops on China slowdownThe World Steel Association has downgraded its previous short-range outlook for apparent steel usage on the back of the slowdown in the Chinese market as well as in South America and CIS, the association said. At its annual meetin More… |
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Top Bahraini banks face possible downgradeMoody's Investors Service said it has placed four Bahraini banks - National Bank of Bahrain (NBB), BBK, BMI Bank and Bahrain Islamic Bank (BIsB) - on review for possible downgrade of its deposit, issuer and senior debt ratings. More… |
