Kuwait Projects Co (KPRO.KW) (KIPCO) repaid a $350 million bond in full at maturity on Tuesday, after ratings agency Moody's placed the company on review for a potential downgrade earlier in the day.
KIPCO, Kuwait's largest investment company by assets, repaid the bond - its first issue under a $2 billion programme - which matured on April 12, a statement from the company said.
"As a result of our prudent funding policies that refinance our maturing debt well in advance, KIPCO has ample liquidity to meet its current requirements," Pinak Maitra, group chief financial officer, said in the statement.
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