Kuwait-Mubasher: Kuwait Projects Company (KIPCO) said that the rating agency Standard & Poor's (S&P) has affirmed the Gulf state's largest investment company’s long-term credit rating at “gcAA-”, based on the local and regional modified standards for the GCC countries, according to a bourse statement.
KIPCO said that the international rating agency has affirmed on 17 February the rating of “gcAA-” which is equal to the international rating of “BBB-”, with a ‘Stable’ Outlook. It added that S&P has affirmed the company’s short-term credit rating at “A-3”.
The rating agency referred to KIPCO’s successful debts management in the past five years, expecting the company’s debt ratio, based on the market value, to stay flat at 30%.
KIPCO stock settled at 550 fils, after about 93,800 shares were traded with a value of around KWD 51,600.
