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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

Moody’s affirms Kuwait Investment Company’s Ba2 rating; stable outlook

Posted on 24 November 2016

The affirmation primarily reflects Moody’s views that 1) the fundamental credit profile of KIC continues to reflect the company’s profitable business model, access to low cost deposits and a low level of net debt to equity, strengths that are counterbalanced by its high exposure to market risk, high level of debt compared to earnings and narrow asset management franchise, and that 2) KIC’s main shareholder, the Kuwait Investment Authority (KIA), will remain supportive of KIC during the planned divestiture process.
The stable outlook on KIC’s rating reflects Moody’s expectation that the divestiture process will take longer than expected and will likely not conclude before the end of 2017…………………………………Full Article: Source


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