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Article: BAHRAIN: MOODY'S SAYS INVESTCORP'S PREFERENCE SHARE ISSUE IS POSITIVE.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- August 4, 2009
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Moody's Investors Service today said that the announcement by Investcorp Bank BSC ("Investcorp") that it had raised more than US$500.0 million in new preference shares is a positive development for the bank. According to Moody's, this represents the successful completion of Investcorp's capital-raising efforts which were initiated in Q4 2008. "Despite the cost, the issue of new preference shares eases pressure on the bank's solvency and liquidity positions and provides it with additional resources to cope with a sustained period of low investment origination, placement activity and valuation pressures," says George Chrysaphinis, Vice President -- Senior Analyst in ...