Middle East Economic Survey
Kuwaiti Bank Ratings Downgraded By Moodys
Moodys Investors Service announced on 26 August that it had downgraded ratings on three Kuwait banks. The bank financial strength rating (BFSR) of Gulf Bank in Kuwait was reduced to D+ from C-, and consequently Gulf Banks long-term global local currency (GLC) and long-term foreign currency deposit ratings were also downgraded to A3/Prime-2 from A1/Prime-1, respectively. Moodys said that the bank...