Middle East Economic Survey

VOL. LIII

No 1

4-Jan-2010

KUWAIT

S&P Revises Kuwaiti BICRA Rating On Higher Economic Risk

Standard & Poors Ratings Services (S&P) announced on 21 December the revision of its Banking Industry Country Risk Assessment (BICRA) for Kuwait to Group 5 from Group 4, while confirming its 15-30% estimate of the potential level of gross problematic assets (GPAs expressed as a percentage of domestic private sector credit over the course of an economic recession). An...