Four Qatari Bank LT FCRs R aised Following Sovereign Rating Upgrade; Ratings Outlook is Stable
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Ref: QA001 2 3PBK00-01 16 February 20 2 3
Four Qatari Bank LT FCRs R aised Following Sovereign Rating Upgrade; Ratings Outlook is Stable
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has raised the Long-Term Foreign Currency Ratings (LT FCRs) of four Qatari banks. At the same time, the Short-Term Foreign Currency Rating (ST FCR) of one bank has also been raised. The ST FCRs of the other three banks remain unchanged, while the Bank Standalone Ratings (BSRs) of all four banks have been affirmed at their current levels, with each bank continuing to display generally solid financial fundamentals. The Outlook on the ratings of all four banks is Stable. The se upward revisions follow the upgrade of Qatar’s sovereign ratings (‘AA’/‘A1+’/Stable) earlier this month.
The LT FCRs of three of the four banks currently benefit from a three-notch uplift over their BSRs due to the high likelihood that…