Mubasher: The Bahraini government cancelled Thursday a bond tap worth $750 million after global agency S&P downgraded the kingdom’s credit rating by two levels to ‘BB’ from ‘BBB-’.
The government decided not to proceed with the bond re-opening, which was announced 16 February, due to S&P’s downgrade late Wednesday, said Bahrain’s central bank.
Bahrain launched its re-tap on Tuesday, split between five- and 10-year portions, at 5.70% and 7.40% respectively.
