Mubasher: Moody's Investors Service (Moody's) announced that it has affirmed Masraf Al Rayan’s baseline credit assessment (BCA) rating at “Baa2”. The New York-based ratings agency also changed the outlook on the Qatari lender's long-term deposit rating to stable from negative.
Moody's has also confimed Al Rayan’s deposit rating at “Aa3”, and affirmed ARB's Counterparty Risk Ratings (CRRs) at “Aa2” or Prime-1, according to a report released late Wednesday.
The long-term deposit rating reflects Moody's view that ARB benefits from a very high probability of support from Masraf, the ratings agency noted.
It is worth noting that Masraf Al Rayan’s profits rose 4.9% year-on-year to QAR 534.82 million during the second quarter of 2018.
By 10:36 am Qatar time, Al Rayan’s stock declined 0.11% at QAR 36.31.
