Moody's ups Doha Bank FSR view to positive

Moody's Investors Service said it changed the outlook for Doha Bank's D financial strength rating to positive from stable.

The outlook for the bank's A3/Prime-2 foreign currency deposit ratings remains unchanged at stable.

Moody's explained that this rating action recognizes Doha Bank's improved financial fundamentals, a direct consequence of the ongoing improvements in the domestic operating environment.

According to Moody's, the rating takes into account the small size of the economy, its dependence on oil and state spending and the existence of a small number of large corporates that leads to significant funding and credit concentrations for the banking sector as a whole.

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