Mubasher: Capital Intelligence Rating Agency (CI) has affirmed the long-term credit rating of Al Mazaya Holding Company at “BBB-”, while the short-term rating was affirmed at “A3”, with a “Stable” Outlook.

Al Mazaya’s long-term rating reflects the solid financial position of the company and its capability of fulfilling financial obligations on time, Al Mazaya said in a bourse statement on Sunday.

Meanwhile, the “A3” rating of Al Mazaya, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), reflects the company’s high quality credit rating and ability to meet its financial obligations on time in the short term, CI added.

“The investors trust in the company and its strong financial position will continue and increase,” CI said. 

The ratings were endorsed by the diversity in Al Mazaya’s business model and its sound liquidity as well as its strong profitability.