Kuwait-Mubasher: Burgan Bank said that Capital Intelligence (CI) has assigned on Wednesday ‘BBB’ rating to Burgan Bank’s KWD-denominated subordinated Bond issue, with a ‘Stable’ Outlook.
The international credit rating agency said “As the adoption of Basel III in Kuwait is still a ‘work in progress’, it is likely that more detailed guidance on the issue of Basel III compliant debt capital instruments will emerge over time.”
It is noteworthy that Burgan Bank is the second among leading commercial banks in Kuwait, in terms of total assets.
The bank ended today’s session dropping 2.86% at 340 fils, after 44,330 shares were traded with a value of about KWD 15,120.
