REG - Kuwait ProjectCo SPC - Fitch Revise Outlook to Stable; Affirms IDR at BB-

Kian ShenAnnouncement

17/12/2025 12:15

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RNS Number : 9671L  Kuwait Projects Co SPC Limited  17 December 2025

 

Kuwait Projects Co SPC Limited

 

Fitch Revises KIPCO's Outlook to Stable; Affirms IDR at 'BB-'

Kuwait Projects Company (Holding) K.S.C.P. (KIPCO), in its capacity as the
Guarantor of Kuwait Projects Co SPC Limited, announced that Fitch Ratings has
revised its outlook to Stable and affirmed its Long-Term Issuer Default Rating
(IDR) at 'BB-'.

As per Fitch's rating commentary, Outlook change reflects improved leverage
following the monetisation of certain assets and Fitch's expectations that the
net loan-to-value (LTV) ratio will remain below 40% over the next four years,
compared with 51.2% at end-2024, in line with management's target to keep
leverage low. KIPCO's weighted-average portfolio credit quality by equity
valued decreased to 'b' from 'b+' following the asset monetisation.

Rating strengths are high diversification of KIPCO's portfolio across several
industries and a presence in the MENA region, a record of long-term returns
and asset monetisation, major influence over most portfolio companies, stable
dividends through the cycle and supportive shareholders.

The rating announcement can be seen at https://www.fitchratings.com/
(https://www.fitchratings.com/)

 

For further information, please contact:

Investors, Press and Media:

Eman Al-Awadhi

49(th) Floor

KIPCO Tower, Khaled Bin Al-Waleed St, Sharq

P.O. Box 23982

Safat 13100

Kuwait

Tel: +965 2294 3416, Email: eman.alawadhi@kipco.com

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