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Capital Intelligence affirms Al-Imtiaz at '-BBB'

Capital Intelligence affirms Al-Imtiaz at '-BBB'
Photo Credit: Arabianeye-Reuters
ALIMTIAZ
ALIMTIAZ
-2.67% 47.30 -1.30

Kuwait-Mubasher: Capital Intelligence (CI) has affirmed Al-Imtiaz Investment Group’s long-term credit rating at '-BBB', with a future ‘stable’ outlook.

 

The international credit rating agency noted that the solid capital base of Al-Imtiaz, the low financial leverage, and the projected improvement in debts have backed the rating.

 

The agency clarified that the debt reconstruction plan will help in decreasing the mortgaged assets.

 

“The profitability of Al-Imtiaz is better than expected, with the powerful performance in Q4-2014 that would help achieve a very good net profit by the end of the year,” added the statement issued by Capital Intelligence.