CI affirms KAMCO’s ‘BBB’ credit rating with a ‘stable’ outlook

Tuesday 11 June 2019
Kuwait City - MENA Herald:

KAMCO Investment Company, a leading investment company with one of the largest AUMs in the region, announced that Capital Intelligence Ratings (“CI”) has affirmed the Company’s long-term credit rating at ‘BBB’ and short-term at ‘A3’ with a stable outlook in a recently released report.

CI’s report highlighted KAMCO’s substantial assets under management, growing investment banking business and recent acquisition of a majority stake in Global Investment House (“Global”). KAMCO’s AUM reached USD13.8 billion as of 31 March 2019, including the effect of acquiring the majority stake in Global. Aside from the sharp increase in AUM, the acquisition grants access to greater geographies, capacities and fund offerings. CI also stated that KAMCO’s liquidity has improved, and that the Company holds a good track record and strong market position in asset management.

Faisal Mansour Sarkhou, CEO of KAMCO, said, “Capital Intelligence’s affirmation of KAMCO’s credit rating underscores the Company’ solid performance, strong financial position and growth prospects. We believe CI’s rating acknowledges the strength of our team, and business, which we plan to further enhance throughout executing growth and expansion strategy. We will continue to harness the full potential of our organizational resources, while taking advantage of new opportunities in regional emerging capital markets to achieve sustainable measurable results for our stakeholders.”

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