Sunday 19, July 2009 by
Rating actions taken on five Kuwaiti banks
Following its review of Kuwaiti banks, Standard & Poor's Ratings Services said that it has lowered its long-term counterparty credit rating on Gulf Bank to 'BBB+' from 'A-' and affirmed the 'A-2' short-term rating. At the same time, the rating agency affirmed the 'A-/A-2' ratings on Kuwait Finance House (KFH) and Commercial Bank of Kuwait (CBK) and the 'BBB+/A-2' ratings on Al Ahli Bank of Kuwait (ABK) and Burgan Bank. The outlooks on all the ratings are negative.
