...Sovereign-Driven IDR: Ahli United Bank (Kuwait)'s (AUBK) IDRs, Support Rating (SR) and Support Rating Floor (SRF) reflect an extremely high probability of support from the Kuwaiti authorities if needed. Fitch Ratings' assessment of support is based on Kuwait's financial strength as indicated by its rating, in addition to the Kuwaiti authorities' extremely strong propensity, in Fitch's view, to support the Kuwaiti banking system, as has been demonstrated through the long-standing track record of support over the years. Tougher Operating Environment: The domestic operating environment is not immune to falling oil prices, but pressure will be partially offset by rising government spending and the filter-down to the wider economy. Part of Ahli United Bank Group: AUBK's Viability Rating (VR) is underpinned by its company profile, benefiting strategically and operationally from being part of the Ahli United Bank (AUB; BBB+/Stable) group in terms of risk management, products and services and the...
