...Support Drives Ratings: Industrial Bank of Kuw ait's (IBK) Issuer Default Ratings (IDRs) reflect an extremely high probability of support from the Kuw aiti sovereign, if needed. The Viability Rating (VR) reflects high concentration and market risks, as w ell as IBK's sensitivity to the operating environment and cycles. The VR also considers IBK's unique company profile in Kuw ait, strong funding, high capital ratios, stable profitability and sound asset quality. Unique Com pany Profile : IBK's VR is highly influenced by its company profile as Kuw ait's sole development bank. IBK's primary focus is the provision of concessionary medium- and long-term financing for the establishment, expansion and modernisation of private-sector industries. The bank also provides commercial banking, mainly in the form of w orking capital, and its risk profile, therefore, differs from that of commercial banks. Operating Environm ent Affects Business: The domestic operating environment is stable, but is not...
