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Fitch downgrades Commercial Bank of Kuwait individual

11 August 2010

The individual rating of the Commercial Bank of Kuwait (CB) has been downgraded to 'D' from 'C/D' by Fitch Ratings, citing weakening loan quality and the impact of the more difficult operating environment on the bank's profitability. "Slower profit generation will make it more difficult for CB to reserve adequately for its growing impaired loans," the rating agency said.

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