Article: KUWAIT: MOODY'S ASSIGNS BAA1 / P-2 RATINGS TO KUWAIT PROJECTS COMPANY (KIPCO).

Moody's Investors Service has assigned long term foreign and local currency issuer ratings of Baa1 to Kuwait Projects Company Holding K.S.C. (KIPCO), a Kuwait-based investment company. Moody's has also assigned short term ratings of Prime-2 to KIPCO. The outlook is stable. This is the first time that Moody's has assigned a rating to KIPCO. "KIPCO's ratings are supported by a good flow of dividends from its controlled subsidiaries, added liquidity from portfolio investments and a generally moderate financial policy", says Philipp Lotter, Dubai/DIFC based Senior Vice President at Moody's and lead analyst for KIPCO. "Nonetheless, our expectation of additional start-up ...

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