S&P: Kuwait Energy on watch

S&P said it placed its B- long-term corporate credit rating on Kuwait Energy plc on CreditWatch with negative implications.

S&P also placed Kuwait Energy's senior unsecured debt issuance on CreditWatch negative.

The negative CreditWatch reflects the cumulative impact of low oil prices and the fact that S&P’s base case does not factor in any benefit from new fund-raising initiatives or those that are conditional or not committed. S&P said it typically only factors in IPO plans or equity issuance after it has closed, given the inherent uncertainties associated with such processes.

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