No. 13/14

25-December-1995/1 January 1996


IBCA Gives Kuwaiti Debt 'A' Rating

The Anglo-French ratings agency IBCA has given its first rating to a Gulf country's sovereign debt. Kuwaiti debt has been given a single 'A' rating. IBCA is basing its assessment on macroeconomic fundamentals, the extent of Kuwait's oil reserves and the recovery of the economy since the expulsion of the Iraqi army. The agency expects total Kuwaiti private and public sector overseas debt to...