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DOHA: Al Khalij Commercial Bank’s (al khaliji) QSC, credit rating was recently affirmed by Fitch. The ratings agency maintains the bank’s Long-term Issuer Default Rating (IDR) at ‘A-‘ with a Stable Outlook.
This rating reflects al khaliji Group’s robust strategy and ability to manage its operations. Given the strong overall prospects for the Qatari economy, Fitch believes the bank will expand and perform better over the rating horizon, the bank said yesterday,
Al khaliji’s Group Chief Executive Officer, Robin McCall, commented on the affirmation: “Fitch’s affirmation of al khaliji’s strong A- rating is a testament to our continued strength and growth. Our medium-term strategy has proven to be effective, with our focus on supporting our chosen clients and supporting the growth in the Qatari economy. It is pleasing that Fitch has recognized the coherence of our strategy and believes that we will continue to expand.” , he said.
“As outlined in the past we will look to issue into the international debt capital markets in 2013, subject to market conditions. This will assist our growth plans and add further diversity and duration to the liability side of the balance sheet.”
Fitch has published its initial ratings on Al Khalij Commercial Bank (al khaliji) Q.S.C earlier this year and have assigned a Long Term Issuer Default Rating of A-. Fitch defines those entities with an “A” range rating as exhibiting, “High credit quality” and “low default risk”.