Kuwait-Mubasher: Standard and Poor’s Financial Services affirmed Kuwait Finance House’s (KFH) short-term counterparty credit rating at (A-2), KFH said in a bourse statement.
S&P placed (A-) on KFH’s long-term counterparty credit rating, KFH said according to a statement issued 16 March.
The rating agency granted a “Negative” outlook to KFH.
In its report, S&P spoke of KFH along with three other Kuwaiti banks, expecting them to navigate through the now more challenging operating environment without major difficulties, despite some deterioration in financial performance.
It added “Although the increasing economic risks are pressuring the capitalisation of most of these banks, we believe that their risk positions have improved.”
Meanwhile, KFH said that no financial impact from S&P’s ratings will be expected.
