Mubasher: Moody’s Investors Service has affirmed the long-term Issuer Default Rating (IDR) of the National Bank of Kuwait (NBK) at “Aa3”, according to a report issued on Wednesday.
Moody’s has placed “a3” at the NBK’s standalone baseline credit assessment (BCA), the report added.
This rating reflects placing “Aa2” at the Kuwaiti government with a “Stable” outlook.
Moody’s clarified that the standalone BCA of the NBK reflects the controlling position of the NBK in the local market, boosting its essential profitability. The rating also reflects the strong financial fundamentals, including assets and liquidity.
The bank’s deposits baseline is supported by solid and stable liquidity, the rating agency added.
