Rating upgrade for Ahlibank
30 April 2014
Sheikh Faisal Bin AbdulAziz Bin Jassem Al-Thani - Chairman and Managing Director
Fitch Ratings has upgraded Ahli Bank’s (QSC) Long Term Foreign Currency Rating to ‘A’ from ‘A-’ and the Short Term Foreign Currency Rating to ‘F1’ from ‘F2’. The rating agency has also enhanced the Support Rating Floor to ‘A’ while affirming Viability Rating at ‘bbb-’ and Support Rating at ‘1’. All the ratings are associated with a stable outlook.
Fitch Ratings has stated in its rating statement issued on 29th April 2014, that the key drivers for the rating upgrade are Ahli Bank’s satisfactory liquidity, sound capitalization and asset quality. In addition, the bank’s fairly conservative risk appetite was cited by Fitch as an important rating catalyst.
Sh. Faisal Bin A. Aziz Al Thani, the Chairman and Managing Director of Ahli Bank stated “We are delighted that the international rating agencies, Fitch and Capital Intelligence recognize the strong financial position of Ahli Bank underpinned by various strategic initiatives, as well as the key steps already taken to maintain and enhance a sustainable performance for the future benefit of all our stakeholders. This rating upgrade is another milestone to Qatar’s banking community which makes us proud”.