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Kuwait - Moody’s confirms Gulf Investment Corporation’s negative ratings

Posted on 25 November 2009

From Globalarabnetwork.com: Moody’s Investors Service today confirmed the Baa2 long-term deposit and senior unsecured debt ratings, and Prime-2 short-term deposit rating of Gulf Investment Corporation (GIC).

At the same time, Moody’s downgraded GIC’s bank financial strength rating (BFSR) to D- from D. The D- rating now maps to a Baseline Credit Assessment (BCA) of 13, down from 12 (on a scale of 1 to 21, where 1 reflects the lowest level of risk)………………………….Full Article: Source

 
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