Fitch Ratings Affirms Al Khalij Commercial Bank Long Term Issuer Default Rating at “A”, Outlook “Stable”

21 November 2019

Al Khali Commercial Bank (Al Khaliji) announced that Fitch Ratings has affirmed the Bank’s long-term issuer default rating (IDR) at “A”, with "Stable" Outlook.

Fitch Ratings Agency defines entities with “A” rating as “High Credit Quality and Low Default Risk”.  Moreover, the Bank's Short Term IDR rating has also been affirmed by Fitch at “F1” while the Support rating and Support rating Floor have been affirmed at “1” and “A” respectively.

Commenting on the rating by Fitch Agency,  Mr. Fahad Al Khalifa, Group’s CEO said "This high rating by Fitch Agency reflects the Bank’s success to overcome all the challenges encountered in running its business. Our strategy was always based on balancing risks and achieving gains to all our shareholders. I further take this opportunity to express my thanks and appreciation to “Qatar Central Bank” and “The State of Qatar” for their valued support which enabled the Qatari financial institutions to succeed and flourish in a stable economic environment".

IDR is an independent objective opinion on the Bank’s risk profile and risk management culture within Al Khaliji Group.