Monday 14, July 2008 by
Moody's says BKME's conversion into Islamic bank will not change ratings
Moody's Investors Service said that, having considered the pros and cons; it sees no grounds for changing the ratings of Bank of Kuwait and Middle East (BKME) solely as a result of the bank's planned conversion from a conventional to an Islamic bank. BKME's A1/Prime-1 long- and short-term local and foreign currency deposit ratings as well as its C- Bank Financial Strength Rating (BFSR) therefore remain unchanged.
