First Iraqi Bank Rating Placed On 'Watch Negative'

By John Lee.

S&P Global Ratings has placed the 'B-' rating on First Iraq Islamic Bank For Investment And Finance JSC on CreditWatch with negative implications.

It added:

"A sharp decline in oil production tied to the increased escalation of the Middle East conflict could lead us to downgrade Iraq, which could, in turn, affect our rating on FIB given the concentration of its assets in the country. "

More details here.

(Source: S&P Global Ratings)

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