waltermasoni
Caribbean Trader
Rating Action:
Moody's affirms Kuwait's Aa2 rating; maintains stable outlook
02 May 2019
New York, May 02, 2019 -- Moody's Investors Service ("Moody's") has today affirmed Government of Kuwait's long-term issuer ratings at Aa2, the outlook is stable.
The rating affirmation is underpinned by Moody's view that Kuwait's exceptionally large wealth, with sovereign wealth fund assets estimated at around 370% of GDP and vast hydrocarbon reserves, will continue to support the sovereign's fiscal strength and creditworthiness.
The stable outlook reflects Moody's expectation that Kuwait's extremely high fiscal strength will be largely preserved through oil price fluctuations and long-term demographic pressure. In particular, it assumes that the authorities overcome the current legislative hurdles and pass a debt law that allows the government to finance its deficit without depleting its most liquid assets.
Kuwait's long-term and short-term foreign-currency bond and deposit ceilings remain unchanged at Aa2 and Prime-1, respectively. Kuwait's long-term local-currency bond and deposit ceilings also remains unchanged at Aa2.
Moody's affirms Kuwait's Aa2 rating; maintains stable outlook
02 May 2019
New York, May 02, 2019 -- Moody's Investors Service ("Moody's") has today affirmed Government of Kuwait's long-term issuer ratings at Aa2, the outlook is stable.
The rating affirmation is underpinned by Moody's view that Kuwait's exceptionally large wealth, with sovereign wealth fund assets estimated at around 370% of GDP and vast hydrocarbon reserves, will continue to support the sovereign's fiscal strength and creditworthiness.
The stable outlook reflects Moody's expectation that Kuwait's extremely high fiscal strength will be largely preserved through oil price fluctuations and long-term demographic pressure. In particular, it assumes that the authorities overcome the current legislative hurdles and pass a debt law that allows the government to finance its deficit without depleting its most liquid assets.
Kuwait's long-term and short-term foreign-currency bond and deposit ceilings remain unchanged at Aa2 and Prime-1, respectively. Kuwait's long-term local-currency bond and deposit ceilings also remains unchanged at Aa2.
