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KIB's IDR affirmed by Fitch
- Kuwait: Sunday, May 12 - 2013 at 07:23
Kuwait International Bank's (KIB) Long-term Issuer Default Rating (IDR) and Viability Rating (VR) have been affirmed by Fitch Ratings at 'A-' and 'b+,' respectively, with a 'Stable' outlook. The lender's IDRs, Support Rating and Support Rating Floor reflect what Fitch views as an extremely high probability of support being provided by the Kuwaiti authorities, if needed, the agency said. KIB's VR reflects the bank's high exposure to the challenged real estate sector in Kuwait, high concentrations in both loans and deposits and profitability that lags its peers,' Fitch said.
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