Mubasher: Kuwait Finance House (KFH) said that Standard & Poor's Financial Services (S&P) has affirmed the bank’s long- and short-term credit ratings at "A-" and "A-2", respectively, with a "Negative" outlook.

The Islamic bank noted that the rating isn’t expected to affect its financial position, according to a filing to Boursa Kuwait issued on Thursday.

S&P’s credit ratings took into consideration the economic risks in the countries, where KFH operates such as Kuwait, Turkey, Bahrain and Malaysia, according to the statement.

The ratings also reflected S&P’s outlook for KFH concerning the improvement in bank’s assets quality indicators.

The New-York rating agency noted that KFH’s asset quality is in parallel with the quality of other lenders.