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Islamic Finance Briefing - Categorized | Insurance (Takaful), Performance more

Kuwait-based Wethaq Takaful Insurance Co. ratings lowered to ‘BB’; outlook negative

Posted on 01 October 2009

From Ameinfo.com: Standard & Poor’s Ratings Services said today that it has lowered its long-term counterparty credit and insurer financial strength ratings on Kuwait-based Wethaq Takaful Insurance Co. K.S.C. (Closed) to ‘BB’ from ‘BB+’.
At the same time, we removed these ratings from CreditWatch with negative implications, where they were placed on May 27, 2009. The outlook is negative………………..Full Article: Source

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