No 26



Fitch Assigns NBKFloating Rate Eurobond A+ Rating

The ratings agency Fitch on 24 June upgraded the long-termforeign currency rating of the National Bank of Kuwait (NBK) from A to A+. Therating is for a $450mn floating rate Eurobond which NBK launched in January2002 (MEES, 4 February) and falls duein February 2005. The bond, which is listed on the Luxembourg Stock Exchange,was rated by Moody痴 Investors Service at A2 at the time of issue. Fitch basedits upgrade on...