Mubasher: Capital Intelligence assigned an initial provisional rating of 'BBB-' to the upcoming senior unsecured bond issue of the National Industries Group Holding, with a 'Stable' outlook.
The five-year bond issue is valued at KWD 30 million and will be offered by the company, according to a bourse filing on Tuesday.
In this regard, the agency highlighted that the ratings will become final once the issue manager confirms the final terms and conditions.
The rating reflects the firm's diversity of investments and the good performance of most of its subsidiaries and sister companies.
It further reflects National Industries' adequate liquidity which will reflect on its investments, lenders, and main shareholders.
The rating will have no material impact on the company’s financials.
National Industries is a dual-listed company on Boursa Kuwait and the Dubai Financial Market (DFM).
