Mubasher: The Kuwait International Bank (KIB) said that Fitch Ratings has affirmed the long-term credit rating of the bank at “A+”, with a “Stable” outlook.
Fitch also affirmed the KIB’s Viability Rating (VR) at “bb-”, according to a bourse statement issued on Tuesday.
The rating agency clarified that the KIB is benefiting from the stable operating environment in Kuwait despite the economic consequences of the decline in oil prices.
Fitch believes that the economic slowdown may reflect on the KIB’s performance, but the continuous capital expenditure according to the governmental plans may partially lighten such pressures.
At the opening of Tuesday’s session, the KIB’s stock reached 255 fils.
