...Support Drives IDRs: National Bank of Kuw ait's (NBK) Issuer Default Ratings (IDRs) are driven by an extremely high probability of support from the Kuw aiti authorities, if needed. This considers Kuw ait's strong capacity to support the banking system and its record of supporting domestic banks. NBK's Support Rating Floor (SRF) of `AA-' is above that of the other banks in Kuw ait (A+). This is a result of its status as Kuw ait's flagship bank, its role in the Kuw aiti banking sector and its close business and strategic links w ith the state. NBK's Viability Rating (VR) reflects its leading franchise, diversified business model, strong management, asset quality and profitability, solid capitalisation, stable funding and liquidity, and a fairly stable operating environment in Kuw ait. It also considers high concentration risk, although low er than that of local peers, and exposures to more challenging markets than Kuw ait. Leading Franchise : NBK is Kuw ait's flagship bank and has a leading...
