The Central Bank of Kuwait officially announced that the global credit rating agency, Moody's, affirmed the state's long-term sovereign rating, Mubasher reported.

The international rating agency confirmed in its periodic assessment that Kuwait maintains an advanced credit profile fixed at the "A1" level.

Moody's decided to keep the future outlook for the Kuwaiti economy as "Stable", reflecting deep confidence in the country's sovereign assets.

The Central Bank of Kuwait clarified that this credit affirmation is primarily driven by the state's massive financial buffers and robust reserves.

Maintaining this sovereign rating strengthens Kuwait's financial standing before international investors and cross-border banking and financing institutions.

The issued economic report indicated that the state's credit strengths are supported by exceptionally low levels of general government debt.

The stable outlook highlights the national economy's capability to withstand periodic fluctuations in global energy markets due to prudent financial management.

Financial circles noted that the central bank's announcement bolsters the positive outlook for ongoing structural and economic diversification reforms.

This advanced credit grade positions the State of Kuwait among nations with high creditworthiness and low investment risks globally.

The credit affirmation reflects the efficiency of strict monetary and macroprudential policies implemented by the central bank to safeguard the banking system.

International institutions continue to praise the resilience of Kuwait's financial solvency and its regional and global competitive edge under various conditions.

This positive evaluation provides further momentum to the local business environment and aids in attracting foreign direct investments to vital sectors.