VOL. XLV

No 48

2-December-2002

KUWAIT

Moodys Upgrades al-Ahli Bank Of Kuwait

Moodys Investors Service said on 25 November that it has upgraded the financial strength rating of al-Ahli Bank of Kuwait (ABK) to D- from E+ (with a stable outlook) as a result of changes in the banks management and strategy. The changes, made over the past 18 months, have improved asset quality and strategic focus. Moodys added that improvements in collection efforts and credit management have reduced non-performing...