Middle East Economic Survey
VOL. LIV
No 46
14-Nov-2011
KUWAIT
Moodys Upgrades GIC Financial Strength Rating
Moodys Investors Service on 1 November upgraded the standalone bank financial strength rating of Kuwait-based Gulf Investment Corporation (GIC) to D from D-, in line with a baseline credit assessment of 12 on a scale of 1 to 21, where 1 reflects the lowest level of risk. Moodys said the GIC rating upgrade reflects its improved capital position and reduced leverage (equity-to-total...
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