From Tradearabia.com: Capital Intelligence, the international credit ratings agency, has affirmed the long and short-term ratings for United Gulf Bank (UGB) at BBB+ and A2 respectively. The outlook for the ratings remains ‘stable’.

UGB is nearing the final stages of its balance sheet restructuring, having sold the bulk of its portfolio of commercial bank investments (namely Jordan Kuwait Bank, Algeria Gulf Bank and Bank of Baghdad) to Kuwait-based Burgan Bank, another Kuwait Projects Company Holding (Kipco) group company……………Full Article: Source