Middle East Economic Survey
VOL. LIII
No 14
05-April-2010
KUWAIT
S&P Downgrades KIPCO Corporate Credit Rating Further
Standard & Poors Ratings Services (S&P) has further downgraded its long-term corporate credit rating for Kuwait Projects Company (KIPCO) to BBB- from BBB, it said on 30 March. The ratings agency cited falling equity values and the companys depositing of cash into subsidiaries as a rising financial risk. We believe these deposits to be liquid and of fluctuating levels,...
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