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Research Update: National Bank of Kuwait 'A+/A-1' Ratings Affirmed On Bank Criteria Change; Outlook Stable Dec 11
Standard & Poors, December 2011
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: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
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.