Mubasher: Warba Bank said that Moody’s Investors Service has affirmed the bank’s long-term deposits at “Baa2”, with a “Stable” Outlook.
Moody’s noted that the Baseline Credit Assessment (BCA) of the bank reflects the Kuwaiti government’s plan to provide assistance when needed, according to a bourse statement on Tuesday.
Moody’s rating reflects the share of the Kuwaiti government, which is rated at “Aa2”, and its support to local banks.
The BCA’s rating shows Warba’s solid resources of high liquidity, the international rating agency noted.
At the stock level, Warba closed Tuesday’s session 0.82% lower at 241 fils.
