S&P Global Ratings (S&P) has reaffirmed Qatar Islamic Bank’s (QIB) Issuer Credit Rating at ‘A-/A-2’ with a stable outlook.
Qatar's credit profile will remain resilient, supported by its wealthy economy and strong government and external net asset positions, according to Standard & Poor's (S&P), an international credit rating agency.
Qatar has had a “remarkable” run in the first half of this year despite the decline of spot gas and LNG prices and the impact of Covid-19, an expert has said.
GCC pegged exchange rate regimes will remain in place, S&P said and noted all GCC sovereigns are having sufficient access to foreign currency assets, or external financial support, to meet pressures on their exchange rates.
S&P Global Ratings said that its affirmation of Qatar’s 'AA-/A-1+' ratings with a stable outlook is “supported by Qatar’s very strong external and fiscal positions.”
S&P Global Ratings has affirmed Qatar’s sovereign ratings with a “stable outlook”, primarily reflecting its view that the country will continue to “effectively mitigate” the economic and financial fallout of the ongoing blockade.
Market conditions in Qatar will remain “highly competitive” for the insurance sector this year and profitability is likely to weaken on increased provisions for bad debt and ageing receivables companies ...
British banks could face potential credit rating downgrades if there is a disorderly Brexit as this would be likely to trigger a domestic political crisis and economic contraction ...
The Qatari government’s net asset position is expected to remain a ratings’ strength over the forecast period, S&P said in a report.