Middle East Economic Survey
Moodys Downgrades CBK Ratings
Moodys Investors Service on 24 May downgraded the bank financial strength rating (BFSR) of Commercial Bank of Kuwait (CBK) to D+ from C-. At the same time, the agency also downgraded CBKs long term global local currency (GLC) and foreign currency deposit ratings to A2 from A1. The banks short term GLC and foreign currency deposit ratings remain at Prime-1. The banks BFSR carries a stable outlook, although...