Middle East Economic Survey

VOL. LII

No 37

14-Sep-2009

KUWAIT

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...