International ratings agency, Moody's Investors Service, has placed the E+ financial strength rating (FSR) of Al-Ahli Bank of Kuwait on review for a possible upgrade. The review stems from recent changes in management and strategy within the bank, according to a Moody's press release. Headquartered in Kuwait City, Al-Ahli reported assets of $3.9 billion as of December 31, 2001.
Moody's notes that these changes have already resulted in improved asset quality within the bank due to enhanced credit collection efforts and credit management. The review for upgrade will assess the extent to which these changes should result in further sustainable improvements to the bank's credit underwriting processes, asset management abilities and deposit franchise. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
