International credit rating agency Fitch Ratings upgraded the long-term foreign currency credit rating of National Bank of Kuwait (NBK) to "A+" from "A". Fitch based its upgrade on the bank’s dominant domestic franchise, international network and track record of generating fee and commission, which would ensure the continuity of its exemplary profit record.
Fitch also noted that NBK remains one of the strongest banks in the region in terms of credit fundamentals. With this recent upgrade, NBK issued a press release stating that it is currently the highest rated bank in the region in terms of credit worthiness and franchise value as sighted by Moody’s, Standard and Poor’s, and Fitch Ratings. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
