Doha, March 28 (QNA) – Fitch Ratings on Thursday announced raising the ratings of seven Qatari banks with a stable long-term outlook, with support from the upgrade of the sovereign rating of the State of Qatar.
Fitch raised the long-term credit rating of Qatar National Bank (QNB) from A to A+.
The Agency also raised the long-term credit rating of six other Qatari banks from A- to A. These banks are: Qatar Islamic Bank, Commercial Bank, Doha Bank, Dukhan Bank, Qatar International Islamic Bank, and Al Ahli Bank, in direct connection with the agency’s upgrade of the sovereign rating of the State of Qatar, on March 20, to AA with a stable outlook.
The new ratings reflects the Fitch Ratings’ view on Qatar relevant authorities’ increasing ability to support banks. (QNA)
