Kamco Investment Company – Ratings Affirmed

Ref: KW0452 3 CRA00- 01 1 6 May 202 4

Kamco Investment Company – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (S T FCR ) of Kamco In vestment Company K.S.C.P. (Kamco ) at ‘BBB’ and ‘A3’, respectively. The Outlook on the ratings remains Stable.

The two most important credit strengths that support the rating are Kamco’s market leadership position within the Kuwait asset management sector and its satisfactory funding and liquidity base. Although the previous KWD40mn bond was repaid, it has been replaced by a series o f long-term bank lines from non-KIPCO Group relationship banks – a funding base that is seen as being stable.

Kamco also continues to enjoy considerable flexibility in its funding plans given existing substantial cash balances , plus committed but undrawn bank lines.

While…