Fitch: International Bank of Qatar program A+

Fitch Ratings said it assigned International Bank of Qatar (QSC)'s (A+/stable/bb+) new $2 billion euro medium-term note program a long-term rating of A+ and short-term rating of F1.

The notes will be issued by IBQ Finance Ltd. in the Cayman Islands. IBQ Finance is a limited liability company, a wholly owned subsidiary of IBQ that was set up solely to act as the issuer of debt funding.

The new program's rating is driven by IBQ's issuer default rating, reflecting Fitch's view that default of this senior unsecured obligation would reflect default of the entity in accordance with Fitch's rating definitions.

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