Mubasher: KAMCO Investment announced that Capital Intelligence Ratings (CI) has affirmed the long-term and short-term credit ratings of the company at ‘BBB’ and ‘A3’, respectively, with a ‘Stable’ outlook in a recent report.
The leading investment company with one of the largest AUMs in the region has substantial assets under management (AUMs) that reached $13.8 billion as of 31 March 2019, including the effect of acquiring the majority stake in Global Investment House, according to CI’s report, KAMCO said in a press release on Monday.
“Aside from the sharp increase in AUM, the acquisition grants access to greater geographies, capacities and fund offerings,” the statement added.
KAMCO’s liquidity has improved, with the company holding a good track record and a strong market position in asset management.
“Capital Intelligence’s affirmation of KAMCO’s credit rating underscores the company’ solid performance, strong financial position, and growth prospects,” CEO of KAMCO Faisal Mansour Sarkhou.
Sarkhou added, “We believe CI’s rating acknowledges the strength of our team, and business, which we plan to further enhance throughout executing growth and expansion strategy. We will continue to harness the full potential of our organizational resources, while taking advantage of new opportunities in regional emerging capital markets to achieve sustainable measurable results for our stakeholders.”
