Kuwait Finance House – Ratings Affirmed

Ref: KW 0 1 0 20 CRA00- 01 24 June 202 1

Kuwait Finance House – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Kuwait Finance House (KFH) at ‘A’ and ‘A1’ respectively. At the same time, CI Ratings has affirmed both KFH ’s Bank Standalone Rating (BSR) and Core Financial Strength (CFS) rating at ‘bbb’ . The Outlook for the LT FCR and BSR is Stable.

The three-notch uplift of the LT FCR above the BSR is based on an Extraordinary Support Level ( ESL) of High. The ESL takes into account the government’s 48% ownership of KFH, the Bank’s market position in the Kuwaiti banking sector as the largest Islamic bank in the country and the second largest bank overall, the government’s strong track record of providing assistance…