Research Update: National Bank of Kuwait 'A+/A-1' Ratings Affirmed On Bank Criteria Change; Outlook Stable Dec 11

Standard & Poors, December 2011

Abstract
Following a review under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have affirmed our long- and short-term counterparty credit ratings on National Bank of Kuwait (NBK) at 'A+/A-1'. Our ratings on NBK reflect its 'bbb' anchor, and our view of its strong business position, strong capital and earnings, adequate risk position, average funding, and adequate liquidity. The ratings on National Bank of Kuwait benefit from two notches of uplift for potential extraordinary government support in a crisis. The stable outlook reflects our belief that NBK's overall business and financial profile will remain resilient and relatively unchanged through the cycle. As previously announced on Dec. 14, 2011, Standard & Poor's Ratings Services affirmed its long- and...

Companies mentioned in this report are: National Bank of Kuwait S.A.K.
Action: Affirmed
Action: Outlook: Stable

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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

National Bank of Kuwait S.A.K.

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