Dubai - Mubasher: Fitch Ratings said it has affirmed its rating for 11 Kuwaiti banks.
The rating agency affirmed National Bank of Kuwait's (NBK) Long-Term Issuer Default Rating (IDR) at 'AA-'.
Fitch has also affirmed the Long-Term IDRs of Kuwait Finance House (KFH), Gulf Bank (GB), Burgan Bank (Burgan), Commercial Bank of Kuwait (CBK), Al Ahli Bank of Kuwait (ABK), Ahli United Bank (Kuwait) (AUBK), Kuwait International Bank (KIB), Industrial Bank of Kuwait (IBK), Boubyan Bank (Boubyan) and Warba Bank (Warba) at 'A+'.
Moreover, Fitch maintained its stable outlook for all the aforementioned lenders.
Meanwhile, Fitch has upgraded CBK's and KIB's Viability Ratings (VR) to 'bb' (from 'bb-') and 'bb-' (from b+), respectively, due to their improving financial profiles following the successful execution of strategic objectives and business reorganization.
