Fitch Affirms Kuwait Finance House’s Long-Term IDR at A+; Stable Outlook

Kuwait Finance House’s (KFH) long-term Issuer Default Rating (IDR) has received affirmation at ‘A+’ by Fitch Ratings (Fitch), with a Stable Outlook.

The rating affirmation of KFH’s IDRs is based on the support provided by the Kuwaiti state, with a Support Rating (SR) of ‘1’ and Support Rating Floor (SRF) of ‘A+’, indicating a strong record of helping domestic banks if needed by Kuwaiti authorities. This is reflected by Kuwait’s sovereign rating (AA/Stable) and strong inclination to provide support irrespective of bank size, funding structure, and level of government ownership. Kuwait’s sovereign rating is also a driver of KFH’s IDR’s Stable Outlook....