Mubasher: Fitch Ratings affirmed National Bank of Kuwait (NBK) and its London arm’s long-term issuer default ratings (IDR) at ‘AA-’, with a stable outlook.
The long-term IDR assigned to the Kuwaiti bank is the highest in the MENA region, according to a recent report by the international credit rating agency.
The short-term IDR and viability rating of the Kuwaiti largest tender by assets have been affirmed at 'F1+' and 'a', respectively.
Fitch said Wednesday that NBK’s ratings reflect its solid balance sheet, with strong asset quality ratios and a sound capital base, and consistent profitability as well as extremely viable diversification strategy.
NBK enjoys the highest credit ratings by the major international rating agencies such as Moody's and Standard & Poor's. In their latest reports, the two rating agencies affirmed NBK’s credit ratings with a stable outlook.
