VOL. XLII
No. 07
15-February-1999
KUWAIT
Fitch IBCA Lowers CBs Individual Rating
The international ratings agency Fitch IBCA loweredCommercial Bank of Kuwaits (CBK) individual rating on 5 February to C fromB/C. The agency said CBK, Kuwaits third largest commercial bank, had posted asmall drop in profitability ratios in the first half of 1998 and full yearresults are likely to be hit by the downturn in the local economy and stockmarket. The agency said conditions are likely to remain difficult as...
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