VOL. XLV

No 20

20-May-2002

KUWAIT

Moodys Upgrades Kuwait ForeignCurrency Ceiling, Local Currency Rating

International ratings agency Moodys Investors Servicesaid on 15 May it has raised Kuwaits foreign currency ceilings for bonds and deposits toA2/Prime-1 from Baa1/Prime-2. It has also upgraded the countrys local currencyissuer rating to A2. The outlook is stable for all ratings. The upgrade wasprompted by a decline in the governments debt over the past few years and bythe minimal likelihood of...