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Fitch rates Gulf Investment A
Fitch Ratings said it assigned an A issuer default rating, F1 short-term rating, C individual rating and 1 support rating to Kuwait-based Gulf Investment Corp. The outlook is stable.
The agency said the ratings reflect the extremely high probability that the bank would be supported by its owners, the Gulf Cooperation Council states (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates) should the need arise and the bank's satisfactory capitalization and cost efficiency, consistent profitability and good franchise in private equity investment.
The ratings also take into account its substantial market risk exposure and revenue volatility from its private equity investment activities, Fitch said.
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