S&P boosts Ahli Bank

S&P said it raised Ahli United Bank BSC’s issuer rating to BBB+ from BBB.

“We believe that Ahli United Bank (AUB) has become a significant part of Kuwait Finance House (KFH) group, and its future strategies align with that of its parent. We also expect the parent will provide extraordinary support when needed.

“We expect AUB would survive a sovereign default of Bahrain, and we do not expect Bahrain's government to impose significant restrictions on the bank that could impair its capacity to fulfill its financial obligations in a timely manner,” S&P said in a statement.

The outlook is stable.

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