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  • 28-09-22

    QIIB announces its ‘A-’ rating from Fitch Ratings with steady forecast

    (MENAFN) QIIB declared on Tuesday that Fitch Ratings has assured the bank’s Long-Term Issuer Default Rating (IDR) at “A-” with a steady forecast, according to a figure of optimistic masseurs in the bank’s economic position.

    In its report, Fitch Ratings mentioned that “The bank’s Long-Term Issuer rating at “A-” with a stable outlook has been affirmed based on a number of reasons related to the bank and its indicators, or the environment in which it operates, foremost of which is the strong possibility of potential government support, if needed”.

    Mainly since the Qatari government have a robust tendency to offer backing to local banks, regardless of their size or ownership, they have a powerful capability to do so as well, as showed in the sovereign rating (AA-/Stable), in addition to considerable net foreign assets and revenue, which allow it to supply several forms of aid, if it was needed.

    MENAFN28092022000045014228ID1104936695

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