S&P trims Doha Bank Assurance

S&P said it lowered its long-term insurer financial strength and issuer credit ratings on Doha Bank Assurance Co. LLC to BBB from BBB+. The outlook is negative.

The downgrade reflects that on DBAC's parent, Doha Bank QSC.

“We continue to view DBAC as a strategically important subsidiary of Doha Bank, given its contribution to the bank's product offering, as well as integration of management and some operational functions. Our ratings on DBAC therefore benefit from one notch of support above its stand-alone credit profile,” S&P said in a news release.

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