Fitch Ratings has downgraded National Bank of Bahrain and Kuwait B.S.C.'s (BBK) Long-Term Issuer Default Rating (IDR) to 'B+' from 'BB-'. The Outlook is Stable.

McLaren's half-year financial statements showed that 653,651 shares were issued at £229.48 per share, with a total value of £150 million, in return of a loan from the National Bank of Bahrain. McLaren recorded the value of the loan in the company's equity clause.

McLaren Group says falling sales of its vehicles means that it will need to raise further funds, despite securing a life-saving 150 million pound ($190 million) loan in June.

McLaren's Formula One future was never in doubt despite a cash crisis brought on by the COVID-19 pandemic and now resolved by a fresh injection of funds, team principal Andreas Seidl said on Tuesday.

The National Bank of Bahrain has granted a £150million loan to McLaren to help it cope with the aftermath of the Coronavirus pandemic.

Who issued the decision to lend the McLaren Company a £280 million loan (BD 131 million)? Why did this happen without guarantees? What are the consequences of this decision?

The National Bank of Bahrain stated that in the light of the recent reports, the bank is currently holding discussions with McLaren about credit facilities. These discussions are at an advanced stage and no agreement has been reached so far. However, these discussions may or may not lead to the extension of credit facilities.