Kuwait-Mubasher: Standard & Poor’s Ratings Services (S&P) affirmed its “AA/A-1+” long- and short-term foreign and local currency sovereign credit ratings on Kuwait, with a “Stable” outlook, according to a statement.
Oil price decline is still affecting the country’s fiscal and external balances, S&P said, adding that the country highly depends on oil.
The “Stable” outlook reflects that Kuwait's overall fiscal and external positions are expected to “remain strong”.
Kuwait's fiscal and external net asset positions will continue to help it against the current low oil price environment.
