Fitch ups Kuwait Finance viability

Fitch Ratings said it affirmed Kuwait Finance House's long-term issuer default rating at A+; the outlook is stable.

The agency also upgraded the bank's viability rating to bb+ from bb.

Fitch said the viability rating upgrade incorporates Kuwait Finance’s reduced risk appetite to non-core banking assets, especially equity securities and investment properties. It also includes an improvement in the bank's asset quality and profitability, supported by a more transparent strategy and good execution.

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