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Zain rating cut by Credit Suisse

2011-02-26 - 09:05 GMT
Kuwait Kuwait


Zain rating cut by Credit Suisse

Credit Suisse has cut its rating on Kuwait-based Zain to "underperform" from "outperform" and said it sees a 50% chance of Etisalat $12bn bid for Zain going through, Reuters has reported. The pre-condition that Zain sells the 25% stake in its Saudi asset and disagreement between the company two influential shareholder groupings over the sale could potentially derail the bidding process, it said.





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