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Moody's revises outlook on Kuwait-based Gulf Bank

Moody's on May 21 affirmed Gulf Bank KSCP's A3/Prime-2 long- and short-term deposit ratings and revised the outlook on the long-term rating to positive from stable.

The rating agency also affirmed the Kuwaiti lender's "ba1" baseline credit assessment and adjusted baseline credit assessment and A2(cr)/P-1(cr) long- and short-term counterparty risk assessments.

The outlook revision is based on the agency's expectation of improvement in Gulf Bank's asset quality and profitability over the next 12 months to 18 months, among other factors.