Kuwait Gets First Moody’s Downgrade Over ‘Liquidity Risks’
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Kuwait was downgraded for the first time by Moody’s Investors Service, a decision the ratings agency said reflects the increase in the government’s “liquidity risks.”
The sovereign credit rating was cut two levels to A1, the fifth-highest investment-grade level and on par with China and Saudi Arabia, according to a statement on Tuesday. Moody’s now ranks Kuwait two steps lower than Fitch Ratings and one below S&P Global Ratings, which lowered its own assessment of the country in March for the first time ever.