Burgan Bank – Issuer and Issue Ratings Affirmed with a Stable Outlook

Overview

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 Burgan Bank K.P.S.C. (BB) at 'A+' and 'A1', respectively. At the same time, CI Ratings has affirmed BB's Standalone Rating (BSR) of 'bbb+', Core Financial Strength (CFS) rating of 'bbb+' and Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR and BSR has been maintained at Stable.

CI Ratings has also affirmed the issue rating on BB's KWD150mn Perpetual Additional Tier 1 Bonds at 'BBB-' with a Stable Outlook.

Attachments

• Rating Announcement (CRA)
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• Bank Rating Report (Kuwait, Burgan Bank KPSC)
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