07-06-2021
Industries Qatar ("IQ" or the "Group", Qatar Stock Exchange: IQCD), one of the largest industrial companies in the region with diversified activities in the production of a wide range of petrochemicals, chemical fertilizers and iron and steel products, announced today that the international credit rating agency "Standard & Poor's" has affirmed the company's credit rating, re-assigning it a credit rating of (A+) with a stable outlook.
It should be noted that the fixing of the credit rating was based on an annual review conducted by the international credit rating agency "Standard & Poor's" of the current and future financial and operational performance and the financial position of Industries Qatar, where the agency took into account several factors, including the company's outstanding liquidity level, and the strength of its competitive position in The markets, its rational financial policy, the diversity of its products and final markets, in addition to its high level of integration with the parent entity (Qatar Petroleum).
In a statement published on June 7, 2021, the credit rating agency Standard & Poor's noted that "IQ's prudent fiscal policy and ability to generate significant cash flows support the achievement of very strong credit metrics."
In its assessment, Standard & Poor's considers that the business risks faced by IQ fall within the "acceptable" levels with the "minimum" financial risk. This confirms the company's ability to achieve outstanding profit margins and strong cash flows from operations thanks to its access to feedstock at competitive prices, the efficiency of its assets, the upgrading of operating levels and the enhancement of integration among the group companies.