How effective is KIPCO’s liability management?
KIPCO’s management has leveraged its track record in meeting its debt obligations, to pursue an optimum funding strategy aimed at reducing costs, balancing maturity profile, extending tenor and expanding the lender base. KIPCO has been assigned a BBB+/A2 rating from Standard and Poor’s and Baa1/P-2 rating from Moody’s. Continuing with its strategy to match its debt maturities to the long term nature of its investments, KIPCO raised KD80 million from a Kuwait based bank in September 2009 and successfully completed a 7 year US$500 million bond deal under its EMTN programme in October 2009.
