| Standard & Poor's Ratings Services affirmed its 'AA/A-1' long- and short-term foreign and local currency sovereign credit ratings on Kuwait. The outlook is stable. Prices for crude oil have fallen by around 50% in the last year. We now forecast an average Brent oil price of 55/bbl in 2015 and 67.5/bbl in 2015-2018. The sharp fall in oil prices over the past year has significantly affected Kuwait's fiscal and current account (flow) positions.
Nevertheless, our ratings on Kuwait remain unchanged as they continue to be supported by the sovereign's high levels of accumulated wealth and very strong external and fiscal asset (stock) positions the Kuwaiti government, via the Kuwait Investment Authority (KIA), has accumulated substantial assets through oil and gas production over the years, saving its oil wealth in what we consider to be a prudent manner...............................................Full Article: Source
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