Standard & Poor's Ratings Services announced that it has taken various rating actions on four Kuwaiti banks following its review of the Kuwaiti banking system. S&P affirmed the 'BBB+/A-2' long- and short-term counterparty credit ratings on Burgan Bank and the 'A-/A-2' long- and short-term counterparty credit ratings on Gulf Bank. The agency also affirmed its 'A+/A-1' long- and short-term counterparty credit ratings on National Bank of Kuwait (NBK) and its UK-based core subsidiary NBK International. The outlooks on all four banks remain stable. At the same time, S&P placed its 'A-' long-term counterparty credit rating on Kuwait Finance House (KFH) on Negative credit watch. The agency affirmed its 'A-2' short-term counterparty credit rating on the bank. The rating actions balance S&P’s view of the increased economic risks these banks face with the recent improvement in Kuwait's banking industry risks, owing to the strengthening regulatory framework. The negative credit watch placement of the long-term rating on KFH incorporates S&P’s view that in the current less-supportive economic environment, the bank will have difficulty in continuing to sell noncore assets, refocusing its strategy on core banking activities, and reducing its exposure to the real estate sector. (S&P)