Kuwait Finance House ’s Ratings Affirmed with a Stable Outlook
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Ref: KW 0 10 1 9 CRA00- 01 2 5 June 2020
Kuwait Finance House ’s Ratings Affirmed with a Stable Outlook
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 (K FH ) at ‘A’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed 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…