Mubasher: Capital Intelligence (CI) has granted KAMCO Investment’s long- and short-term credit rating a classification of “BBB” and “A3”, respectively.
The rating agency also granted KAMCO a “Stable” outlook, according to a bourse statement on Thursday.
KAMCO noted that CI’s rating reflects the solid performance of an ongoing improvement and the strong financial position, in addition to increasing investors’ sentiments in KAMCO.
CI also noted that this good classification relied on the large and stable level of the asset under management (AUM).
It is noteworthy that KAMCO posted a decline of 10.9% in profits to KWD 1.14 million in fiscal year 2017 compared to KWD 1.28 million in FY16.
