|22 September, 2019

Moody’s affirms Warba Bank’s outlook at ‘Stable’

Warba Bank recently issued $500million unsecured sukuk

Mubasher: Moody's Investors Service has completed the periodic review of the ratings of Warba Bank and other associated ratings.

Moody’s placed the rating of the bank’s Counterparty Risk Rating at ‘Baa1/P-2’, with a ‘Stable’ outlook, the bank said in a disclosure to Boursa Kuwait on Sunday.

The rating agency has also assigned ‘Baa2/P-2’ rating to the bank’s deposit, while the Baseline Credit Assessment (BCA) was affirmed at “ba3”.

Moreover, the rating of the Adjusted Baseline Credit Assessment was affirmed at ‘ba3’, while the Counterparty Risk Assessment was affirmed at ‘Baa1(cr)/p-2(cr)’.

Warba Bank highlighted that Moody’s outlook reflects the bank’s strong liquidity and increasing profits.

On Wednesday, 18 September, Warba Bank announced the issue of $500 million unsecured sukuk for a specific period of five years.

Source: Mubasher

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