Mubasher: Fitch Ratings has affirmed Ahli Bank of Kuwait’s (ABK) long-term issuer default rating (IDR) at ‘A+’, with a ‘Stable’ outlook.

ABK’s short-term IDR was affirmed at ‘F1’, the bank said in a filing to Boursa Kuwait on Monday.

Moreover, the rating agency affirmed ABK’s viability rating (VR) at ‘bb+’, support rating (SR) at ‘1’, and the support rating floor ‘SRF’ at ‘A+’.

Fitch Ratings does not expect the current ratings to have any major impact on the bank’s financial position in the short run.

In the long run, in case local and regional markets revive, the rating agency expects improvement in ABK's ratings; this shall reflect positively on the bank's financial position.