Fitch affirms Kuwait Turkish Evkaf

Fitch ratings said it affirmed Kuwait Turkish Evkaf Finance House's (KTEFH) long-term foreign and local currency ratings at BB- and BB, respectively.

At the same time, Fitch said it affirmed its other ratings at short-term foreign and local currency B, individual D/E, national long-term BBB+ (tur) and support 3. The outlook on the long-term ratings is stable.

Fitch noted the long-term, short-term, national and support ratings of KTEFH reflect the high propensity of its major shareholder, Kuwait Finance House (A-), to support the finance house in case of need.

However, this might be constrained by the potential difficulties arising in a weak and volatile environment that could affect the flow of support from the provider to its creditors, the agency noted.

© 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.