Moody's: Upgrades for Kuwaiti banks

Moody's Investors Service said it published the rating results for banks in Kuwait as part of the application of its refined joint default analysis and updated bank financial strength rating methodologies.

The majority of Kuwaiti banks have benefited from a one-notch upgrade of their bank financial strength ratings due to their increasingly sound financial fundamentals and strong franchises, the agency said.

The bank's local-currency deposit ratings, especially those of partially government-owned banks, also have benefited from a high probability of systemic support in case of need, Moody's said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.