Middle East Economic Survey

VOL. LIII

No 20

17-May-2010

KUWAIT

S&P Announces Four Kuwaiti Banks Now On Negative Outlook

Standard & Poors Ratings Services (S&P) has affirmed its ratings on four Kuwaiti banks and now has them all on negative outlook, due to low creditworthiness as a result of the global financial crisis and resulting drops in real estate, oil and equity, it said on 10 May. These three markets account directly or indirectly for most of the countrys corporate activities,...