S&P raises Kuwait’s credit rating to ‘AA’ after shifting criteria; cites strong economy - The Washington Post

Credit rating agency Standard & Poor’s is raising its rating for Kuwait based on the strength of the oil-rich Gulf nation’s economy.

S&P boosted Kuwait’s long-term rating Wednesday to ‘AA’ from ‘AA-’ with a stable outlook following a shift in the company’s sovereign government rating methodology.

It says Kuwait’s solid economy and “exceptionally strong” public finances merit the higher rating under its new criteria.

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