Fitch has assigned A+/F1 ratings to Burgan Senior SPC (BSPC) Limited's US$1.5bn EMTN programme. BSPC is the special purpose vehicle wholly owned by Kuwait's burgan bank (A+/F1/ Stable), established for the sole purpose of issuing notes under the programme. Burgan has provided an unconditional and irrevocable guarantee for the notes. The bank is rumoured to have mandated for a US dollar benchmark bond, according to an analyst report by MUFG.
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