Fitch affirms KIPCO's rating at 'BB-' / Stable

Summary by AI BETAClose X

Fitch Ratings has affirmed Kuwait Projects Company (Holding) K.S.C.P. (KIPCO) at 'BB-' with a Stable Outlook, reflecting the resilience of its diversified MENA portfolio and strong liquidity covering debt maturities into early 2028. The rating also considers KIPCO's investment returns, active portfolio management, and supportive shareholders. Kuwait Projects Co SPC Limited's updated EMTN program also received a 'BB-' rating with an 'RR4' Recovery Rating, with notes unconditionally guaranteed by KIPCO. Fitch anticipates net loan-to-value to remain below 45% over the next four years.

Disclaimer*

UK 100

Latest directors dealings