Upgrade of BBK's by moodys

RNS Number:2050W
BBK (B.S.C.)
08 May 2007





Moody's Upgrades BBK's Bank Financial Strength Rating

On 24 April 2007, Moody's Investor Service, a well known international credit
rating agency has upgraded BBK's Bank Financial Strength Rating (BFSR) to C-
from D+. The Local Currency Deposit Ratings assigned are A2/Prime-1. The Foreign
Currency Deposit Ratings are unchanged at A3/Prime-2. The ratings on the bank's
Foreign Currency Medium-Term Deposit Note Programme and on any Notes issued
under it are also unchanged at A3. The outlook on the Foreign Currency Deposits
and Foreign Currency Deposit Notes is positive. The Outlook on the bank's other
ratings is Stable. The rating upgrades has taken place due to the application of
its refined joint default analysis (JDA) and updated bank financial strength
rating (BFSR) methodologies.

BFSRs evaluate the stand-alone or intrinsic financial strength of banks without
reference to external support factors. BFSRs are the starting point of Moody's
bank credit analysis, and are an important determinant of Moody's bank deposit
and debt ratings. Moody's then uses its JDA methodology to incorporate the
potential for external support into a bank's local currency deposit rating.




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