Kuwait – Mubasher: Standard and Poor’s Financial Services (S&P) has upgraded Warba Insurance’s credit rating to ‘BBB+’ from ‘BBB’, with a ‘Stable’ outlook.

The upgraded rating relied on Warba’s continuous competitiveness which is sustainable in the insurance sector in Kuwait, according to a recent statement.

S&P noted that the future stable outlook for Warba indicates to the possibility of not changing the company’s ratings during the coming two years.