Middle East Economic Survey
Moodys Downgrades Ratings On Three Kuwaiti Banks
Moodys Investors Service downgraded the bank financial strength rating (BFSR) of Bank of Kuwait and the Middle East (BKME) to D+ from C- on 8 September. The D+ rating relates to a Baseline Credit Assessment (BCA) of Baa3. Consequently, BKMEs long-term global local currency (GLC) and long-term foreign currency deposit ratings were also downgraded to A3 from A1. The banks short-term local...