Qatar International Islamic Bank – Ratings Affirmed with a Stable Outlook
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Ref: QA00 4 21 CRA00- 0 1 24 March 20 2 2
Qatar International Islamic Bank – Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating ( LT FCR) and Short-Term Foreign Currency Rating ( ST FCR) of Qatar International Islamic Bank Q. P.S.C. ( QI I B ) at ‘A’ and ‘A1’ , respectively. At the same time, CI Ratings has affirmed QI I B ’s B ank S tandalone Rating (BS R ) of ‘ bbb+ ’ , Core Financial Strength (CFS) rating of ‘ bbb+ ’ and Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR and BSR remains Stable.
The Bank’s LT FCR is set two notches above the BSR to reflect the high likelihood of official extraordinary support in case of need. This is based on the government’s strong track record of support for Qatari banks. At different points in time such…