KFH
Mubasher: Fitch Ratings has affirmed Kuwait Finance House’s (KFH) long-term issuer default rating (IDR) at “A+”, with a “stable” outlook.
The stable outlook on KFH’s Long-Term IDR reflects that on the Kuwaiti sovereign rating, the New York-based ratings agency said.
Fitch has also affirmed the lender’s viability rating at (bb+), according to a filing to Boursa Kuwait on Thursday.
The bank noted that this rating has no impact on its financial position.
“An (A+) Long-Term IDR can correspond to a Short-Term IDR of either (F1) or (F1+),” Fitch said.
KFH has a strong franchise as the largest Islamic lender in Kuwait and the GCC country's second-largest bank, with a market share of about 23% by assets at end of the first half of 2018.
By 10:52 am Kuwait time, KFH’s stock declined 0.34% at 588 fils.