Moody's10 months ago
Moody's Investors Service (Moody's) has today assigned a Ba3(hyb) rating to the proposed USD-denominated, perpetual, non-cumulative additional Tier 1 (AT1) capital securities to be issued by Al Ahli Bank of Kuwait K.S.C.P. (ABK, deposits A2 stable, baseline credit assessment baa3). The securities constitute direct, unconditional, subordinated and unsecured obligations of ABK. The terms and conditions of the capital securities incorporate Basel III-compliant non-viability language in accordance with Central Bank of Kuwait (CBK) instructions, and will qualify as additional Tier 1 regulatory capital.