December 1, 2017 / 9:47 PM / 15 days ago

BRIEF-S&P Lowers Rating On Bahrain to 'B+', Raises Outlook To Stable

Dec 1 (Reuters) - S&P:

* S&P LOWERS BAHRAIN’S SOVEREIGN CREDIT RATING TO B+ FROM BB-; RAISES OUTLOOK TO STABLE FROM NEGATIVE

* SAYS KINGDOM OF BAHRAIN RATING LOWERED TO ‘B+’ ON EXTREMELY WEAK EXTERNAL LIQUIDITY; OUTLOOK STABLE

* SAYS LOWERING LONG-TERM FOREIGN & LOCAL CURRENCY SOVEREIGN CREDIT RATINGS ON BAHRAIN TO ‘B+’ FROM ‘BB-’

* SAYS LOWERED TRANSFER & CONVERTIBILITY (T&C) ASSESSMENT ON BAHRAIN TO ‘BB-’ FROM ‘BB’

* S&P ON BAHRAIN SAYS DOWNGRADE REFLECTS VIEW OF RISKS RELATED TO LOW LEVELS AND HEIGHTENED VOLATILITY OF INTERNATIONAL RESERVES AT THE CENTRAL BANK

* SAYS BAHRAIN'S GROSS INTERNATIONAL RESERVES ARE LOW & HAVE BECOME MORE VOLATILE THROUGHOUT THE YEAR Source text - (bit.ly/2njsqtP)

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