Moody’s upgraded outlook of Doha Bank reflects view that Qatar can withstand challenges, says CEO

Moody’s upgraded outlook of Doha Bank reflects view that Qatar can withstand challenges, says CEO:

Global credit rating agency Moody’s has upgraded the outlook of Doha Bank to “stable” and affirmed the long-term issuer default ratings (IDR) at ‘Aa3’.

The upgrade to stable, follows the revision of the Qatari sovereign’s outlook to stable and affirmation of the country’s long-term issuer and foreign-currency senior unsecured debt ratings at ‘Aa3’, and reflects Moody’s view that Qatar can withstand the economic, financial and diplomatic boycott by the three neighbouring Gulf Co-operation Council countries.

Doha Bank group chief executive Dr R Seetharaman said Moody’s ratings recognised resilience of the Qatari banks and Qatar’s operating environment to the economic blockade and the support of Qatari Government for banking system in Qatar.