Kuwait-Mubasher: Moody's Investors Service has rated Commercial Bank of Kuwait’s (CBK) long-term credit at (A3), with a “Stable” future outlook, CBK said in a bourse statement.
This rating reflects the four-level upgrade of the bank’s subsidy from (ba1), meanwhile the bank’s short-term credit rating was set at (Prime-2), the bank said, according to a recent report by Moody’s.
Despite the stability of assets’ quality on Kuwait, the possible low oil price will negatively affect the investors’ sentiments in different operations which will lead to new pressures on the quality of local banks assets, Moody’s added.
Moody’s expected CBK’s Capital adequacy ratio (CAR) to maintain at its current level.
CBK stock did not see any trades on Thursday.
