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Fitch ups five Kuwaiti banks
Fitch Ratings said it upgraded the long-term issuer default ratings of five Kuwaiti banks. This follows the upgrade of Kuwait's long-term foreign-currency issuer default rating to AA from AA- with stable outlook.
The upgrade follows a review of all Kuwait-based banks, the agency said, and reflects Kuwait's improved ability to provide support to the banking system, if required.
The outlook on all banks is stable.
National Bank of Kuwait's long-term foreign-currency issuer default rating is upgraded to AA- from A+ and short-term foreign-currency issuer default rating to F1+ from F1.
Kuwait Finance House's long-term foreign-currency issuer default rating is upgraded to A+ from A and its short-term foreign-currency issuer default rating was affirmed to F1.
Gulf Bank's long-term foreign-currency issuer default rating is upgraded to A+ from A and its short-term foreign-currency issuer default rating was affirmed at F1.
Commercial Bank of Kuwait's long-term foreign-currency issuer default rating is upgraded to A+ from A and its short-term foreign-currency issuer default rating was affirmed at F1.
Industrial Bank of Kuwait's long-term foreign-currency issuer default rating is upgraded to A+ from A and short-term foreign-currency issuer default rating is affirmed at F1.
Al Ahli Bank of Kuwait's long-term foreign-currency issuer default rating is affirmed at A- and short-term foreign-currency issuer default rating at F2.
Bank of Kuwait & the Middle East's long-term foreign-currency issuer default rating is affirmed at A- and short-term foreign-currency issuer default rating at F2.
Kuwait International Bank's long-term foreign-currency issuer default rating is affirmed at A- and short-term foreign-currency issuer default rating at F2.
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