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Bahrain’s UGB ratings affirmed

Bahrain’s UGB ratings affirmed
The bank’s financial strength rating (FSR) is also maintained at “BBB”.
UGB
UGB
-6.25% 0.36 -0.02

Mubasher: Capital Intelligence Ratings (CI Ratings) has affirmed the long- and short-term foreign currency ratings (FCRs) of United Gulf Bank (UGB) at “BBB” and “A3” respectively, with a “Negative” outlook, according to a statement.

The bank’s financial strength rating (FSR) is also maintained at “BBB”.

The ratings are mainly attributed to the bank's strong ownership, and the demonstrated financial and liquidity support from Kuwait Projects Company Holding (KIPCO Group).

The ratings continue to be supported by UGB’s demonstrated ability to repay and refinance maturing debt, effective access to term finance, and the sound quality of the investment portfolio.