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Research Update: Kuwait-Based Kuwait Finance House 'A-/A-2' Ratings Affirmed On Bank Criteria Change; Outlook Negative Dec 11
Standard & Poors, December 2011
Following a review under Standard & Poor's revised bank criteria (published Nov. 9, 2011), we have affirmed our 'A-/A-2' long- and short-term ratings on Kuwait Finance House (KFH). Our ratings on KFH reflect the bank's 'bbb' anchor, as well as its adequate business position, adequate capital and earnings, moderate risk position, average funding, and adequate liquidity, as our criteria define these terms. The long-term rating on KFH benefits from three notches of uplift for potential extraordinary government support in a crisis. This takes into account our opinion that KFH has high systemic importance in Kuwait, and that the Kuwaiti government is highly supportive of its banking sector. The negative outlook reflects our belief that the bank's financial profile may deteriorate...
Companies mentioned in this report are: Kuwait Finance House
Action: Outlook: Negative
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.
Kuwait Finance House