Middle East Economic Survey

VOL. LIV

No 47

21-Nov-2011

KUWAIT

S&P Withdraws ABK Credit Ratings At Banks Request

Standard & Poors Ratings Services (S&P) announced on 31 October that it had affirmed its BBB+/A-2 long and short term counterparty credit ratings on Al Ahli Bank of Kuwait (ABK) and then withdrawn the ratings at the banks request. S&P said: The affirmation reflected our view of ABKs strong capitalization and pre-provision earnings capabilities, adequate asset...