Middle East Economic Survey
VOL. LIII
No 13
29-March-2010
KUWAIT
S&P Downgrades KIPCO Corporate Credit Rating
Standard & Poors Ratings Services (S&P) announced on 24 March that it lowered its long term corporate credit rating on Kuwait Projects Company (KIPCO) to BBB from BBB+. All ratings, including the A-2 short-term corporate credit rating, remain on CreditWatch, where they were placed with negative implications on 10 February. The downgrade reflects our view on KIPCOs portfolio...
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