Fitch places Commercial Bank on watch

Fitch Ratings said it placed the Commercial Bank’s A long-term issuer default rating on rating watch negative.

“The RWN reflects the Qatari banking sector's increasing reliance on external funding and recent rapid asset growth, which may have moderately weakened the sovereign's ability to provide support to the system, in case of need,” the agency said in a press release.

Fitch said it aims to resolve the RWN following further analysis of the composition and stability of Qatari banks' non-resident funding, the evolution of this funding in volumes and sources, banks' liquidity management plans and the sovereign's ability to provide liquidity support to banks, if needed.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.