S&P removes Al Wathba from watch

S&P said it affirmed its BBB- long-term ratings on Al Wathba National Insurance Co. PJSC and removed them from CreditWatch negative, where the agency placed them on July 31, 2019.

S&P cited management’s steps to improve the company’s liquidity position converting its short-term overdraft facilities to long-term loans.

The outlook is stable.

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