Mubasher: Fitch Ratings has affirmed the credit rating of the National Bank of Kuwait (NBK) at “AA-”, with a “Stable” Outlook.
The bank’s viability rating (VR) was downgraded to “a-” from “a” in line with reevaluating the bank compared to its counterparts that were placed the same rating, the NBK said, according to a bourse statement issued on Tuesday.
Fitch has placed a rating of “AA-” regarding the support rating floor (SRF) of the NBK.
The bank’s affirmed Outlook reflects the sovereign rating of Kuwait, Fitch said.
It is noteworthy that S&P Investors Service has affirmed the NBK’s long-term rating at “A+”.
