Middle East Economic Survey
VOL. LII
No 7
16-Feb-2009
KUWAIT
S&P Lowers Long-Term Rating On Gulf Investment Corporation
Standard and Poors Ratings Services (S&P) on 9 February lowered its long term counterparty credit rating on Kuwaits Gulf Investment Corporation (GIC) from A- to BBB+ and placed both long term (BBB+) and short term ratings (A-2) on CreditWatch. The downgrading is due to the negative impact of the global and regional market conditions on GICs business and financial profile....
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