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Kuwait: Moody’s affirms ‘A1’ rating, stable outlook

Moody’s Investors Service (“Moody’s”) has on Thursday affirmed the government of Kuwait’s long-term local and foreign currency issuer ratings at A1. The outlook remains stable. 

The decision to affirm the ratings is underpinned by Moody’s assessment that Kuwait’s balance-sheet and fiscal buffers will remain strong for the foreseeable future, which preserve macroeconomic and external stability and anchor the credit profile.

Kuwait’s local and foreign currency country ceilings remain unchanged at Aa2.

Kuwait’s credit profile is supported by its large sovereign wealth buffers and very low debt level. With the sharp increase in oil prices this year driven by the Russia-Ukraine military conflict, coupled with higher oil production under the OPEC+ agreement, Moody’s expects Kuwait’s stock of SWF assets to grow over the next two years.

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Kuwait Times
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