S&P affirms Kuwait Projects

Standard & Poor's said it affirmed its BBB-/A-3 long- and short-term corporate credit ratings on Kuwait Projects Co. (Holding) K.S.C. (Kipco).

The outlook is stable.

The affirmation reflects S&P's assessments of Kipco's business risk profile as "fair" and financial risk profile as "intermediate," resulting in a stand-alone credit profile that S&P assesses at bb+.

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