Mubasher: Moody's Investors Service assigned a Baa2 Long Term Issuer Rating to EQUATE Petrochemical with a stable outlook, according to the rating agency’s report issued on Monday.

Moody's also gave a provisional Baa2 senior unsecured rating to the $4 billion GMTN Programme of EQUATE Petrochemical.

"The rating reflects the company’s strong operating profile benefiting from a low cost structure including cost advantaged feedstock supplies and supported by vertically integrated operations," the report indicated.

"The rating also takes into account the expectation of strong government support given the importance of the company in the diversification of the Kuwaiti economy,” it added.