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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Performance

Moody’s affirms Kuwait Investment Company’s Baa3 issuer ratings; outlook stable

Posted on 27 January 2014

Moody’s Investors Service has today affirmed the Baa3 issuer ratings of Kuwait Investment Company S.A.K. (KIC). At the same time, Moody’s noted that the company’s baseline credit assessment (BCA) of b3 has remained unchanged. The outlook on the ratings is stable.
This affirmation primarily reflects the high probability of government support in case of need, KIC is considered a government-related issuer (GRI), recognising (1) KIC’s 76 per cent ownership by the Kuwaiti government’s sovereign wealth fund (Kuwait Investment Authority or KIA), and (2) KIA’s continuous contribution to KIC through funding support and business generation………………………………………..Full Article: Source


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