Fitch affirms Kuwait’s AA- rating with stable outlook 

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Sun, 2024-03-17 12:36

RIYADH: Kuwait’s foreign and local currency sovereign credit ratings have been affirmed at AA- with a stable outlook by Fitch Ratings, driven by strong fiscal and external balance sheets. 

An AA- rating from Fitch indicates minimal default risk, demonstrating a strong ability to meet financial obligations. 

“Kuwait’s fiscal and external balance sheets remain among the strongest of Fitch-rated sovereigns,” said the credit rating agency.  

The report, however, added that the assessment is marginally curbed by Kuwait’s significant reliance on oil.  

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