Moody’s revises Qatari banks to negative

Moody's Investors Service said it affirmed the long-term ratings of all of the 10 banks it rates in Qatar, along with their baseline credit assessments (BCA), adjusted BCAs and counterparty risk assessments.

At the same time, the agency changed the outlook on the following institutions to negative from stable: Qatar National Bank, Doha Bank QSC, Al Khalij Commercial Bank QSC, Ahli Bank QSC, Barwa Bank QSC, International Bank of Qatar (QSC), Masraf Al Rayan, Qatar International Islamic Bank and Qatar Islamic Bank.

The outlook on the long-term deposit ratings of Commercial Bank remains negative.

Moody’s said the actions were driven by: (a) The weakening domestic operating environment, particularly for banking funding, resulting in the agency lowering the macro profile it assigns to Qatar to moderate+ from strong--; and (b) the weakening capacity of the Qatar government to support the country's banks, as indicated by the agency’s July 4 change in outlook for the Qatari government's Aa3 government bond rating to negative from stable.

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