Standard & Poor’s Ratings Services affirmed its AA/A-1+ long and short-term foreign and local currency sovereign credit ratings on Kuwait. The outlook is stable.
“The ratings on Kuwait are supported by the sovereign’s high levels of wealth and very strong external and fiscal balance sheet positions. It has accumulated these through large oil and gas resources and by managing its wealth in what we consider to be a prudent manner. The ratings are constrained by the geopolitical tensions in the region, as well as Kuwait’s unpredictable political environment and undiversified economy,” S&P in a statement said.