National Industries Group Holding – Bond Ratings Affirmed; Outlooks Revised to Negative

Overview

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the ratings of National Industries Group Holding's (NIG) KWD25mn Senior Unsecured Bond (maturing December 2021) and KWD30mn Senior Unsecured Bond (maturing February 2025) at 'BBB' and 'BBB-', respectively. At the same time, CI Ratings has revised the Outlook for both ratings to Negative from Stable due to the impact of Covid-19 on the issuer's financial performance and financial flexibility.

Attachments

• View Credit Rating Announcement (CRA)
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