S&P assigns Wethaq BBB-

Standard & Poor's rating Services assigned its BBB- long-term counterparty credit and financial strength ratings to Wethaq Takaful Insurance Co. KSC.

The outlook is stable.

The agency said that the ratings on Wethaq reflect its strong capitalization and good financial flexibility while offsetting factors are a marginal competitive position, aggressive investment strategy, and only adequate earnings.

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