Kuwait-Mubasher: Capital Intelligence (CI) has affirmed the rating for Burgan Bank's KWD100 million subordinated bonds which were issued in December, 2012 at 'BBB+', with a 'Stable' Outlook, according to a recent statement.
This rating was one level below the bank’s Long-Term Foreign Currency Rating of ‘A-’ which reflects that the bonds are a Basel II compliant subordinated instrument.
CI noted that the rating is supported by Burgan’s improved asset quality in recent years, the strengthened cover for non-performing loans (NPLs), as well as the comfortable liquidity and large capital injections in 2014.
