VOL. XLV

No 14

8-April-2002

KUWAIT

MoodysConfirms Baa2, C- Rating For GIC

US ratings agency Moodys Investors Service announced on 1April that it had confirmed the Baa2 long-term foreign currency deposit ratingand C- financial strength rating of Kuwait-based Gulf Investment Corporation(GIC). In a statement, Moodys explained that the ratings were placed on reviewfor possible downgrade following the sale last year of Gulf International Bank(GIB) to GICs shareholders, the six GCC states. Atthe time,...