Mubasher: Ezdan Holding Group on Monday announced that Moody’s credit agency has withdrawn the group’s credit rating and sukuk programme which was at “B1”.
The US-based credit ratings agency's decision came after Ezdan provided an insufficient information to support the maintenance of the ratings, according to a statement to the Qatar Stock Exchange (QSE).
Meanwhile, the Qatari firm said that the “withdrawal of credit rating doesn’t have a significant impact on its shareholders or its Sukuk holders, and it assures its compliance with the relevant laws and regulations,” the statement added.
In September, Moody's Investors Service withdrew Ezdan Holding Group B1 corporate family rating (CFR), Ezdan Sukuk Company Limited's B1 senior unsecured MTN program rating and the associated senior unsecured debt instruments with "B1" rating of Ezdan Sukuk Company Limited.
By the end of Monday’s session, Ezdan Holding’s stock rose 2.20% at QAR 10.22.
