Moody's Investors Service has affirmed the A3/Prime-2 deposit ratings and A2(cr)/Prime-1(cr) Counterparty Risk (CR) Assessment of Burgan Bank. The bank's long term deposit ratings carry a Stable outlook. The rating action follows the recent sale of Burgan's 51% stake in Jordan Kuwait Bank (JKB) to a subsidiary of its parent company Kuwait Projects Company (KIPCO, Baa3 stable). The rating mainly reflects i) the positive impact on the bank's capital metrics from the sale, which allows the bank to meet the Central Bank of Kuwait's enhanced capital requirements while continuing its growth strategy; and ii) the minor impact on the bank's geographical asset exposure as the bank is expected to continue to focus on diversification into high growth and relatively higher risk markets compared to Kuwait. (Moody’s)