Moody's rates Kuwait Projects Baa1

Moody's Investors Service said it assigned long-term foreign- and local-currency issuer ratings of Baa1 and short-term rating of prime-2 to Kuwait Projects Co. Holding KSC.

The outlook is stable.

The ratings are supported by a good flow of dividends from its controlled subsidiaries, added liquidity from portfolio investments and a generally moderate financial policy, Moody's said.

Nonetheless, expected additional start-up businesses and acquisitions, limited diversification and the credit quality of the company's existing core businesses constrain ratings, the agency said.

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