Fitch rates IBQ Finance notes A+

Fitch Ratings said it assigned a rating of A+ to IBQ Finance Ltd.’s $500 million 3˝% guaranteed senior unsecured notes due 2020.

The notes are issued under IBQ Finance’s $2 billion euro medium-term note program.

The payments of all amounts due in respect of the notes issued is guaranteed by International Bank of Qatar QSC on an unsubordinated basis.

The ratings assigned to the notes are equalized with IBQ’s long-term issuer default rating of A+, Fitch said.

The ratings are driven by expected support from the Qatari authorities and are sensitive to a change in assumptions about the Qatari authorities’ propensity or ability to provide timely support to IBQ, the agency said.

The company also has a short-term issuer default rating of F1 and viability rating of BB+.

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