Fitch Affirms KIPCO’s ‘BB-’ Rating with Stable Outlook
Oct 29
1 min read
Fitch Ratings has affirmed KIPCO’s Long-Term Issuer Default Rating at ‘BB-’ with a Stable Outlook, highlighting the Group’s diversified portfolio, strong liquidity and active portfolio management.
Fitch also assigned a ‘BB-’ rating to KIPCO’s updated Euro Medium Term Note (EMTN) Program.
The agency recognized KIPCO’s financial flexibility, US$ 1.1 billion cash position and successful asset monetization efforts, which have supported debt reduction and strengthened the Group’s financial position.
Commenting on the rating, Mr. Moustapha Chami, KIPCO’s Group CFO, said:
“The affirmation of our credit rating amid challenging regional conditions is a clear endorsement of the resilience of our diversified portfolio and the financial discipline underpinning our strategy.”
He added:
“The Group remains committed to strengthening its balance sheet, optimizing its portfolio and building sustainable long-term value for shareholders.”
