Moody’s rates Ahli Bank note program A2

Moody's Investors Service said it assigned provisional A2 long-term senior unsecured ratings to the $1.5 billion guaranteed euro medium-term note program of ABQ Finance Ltd., a special-purpose vehicle of Qatar-based Ahli Bank QSC (A2 long-term deposit ratings with a stable outlook, baseline credit assessment baa3).

The securities constitute unconditional, unsecured and unsubordinated obligations of Ahli Bank.

The ratings are aligned with Ahli Bank’s A2 long-term deposit ratings, reflecting two primary considerations: (a) The instruments issued under the programme will be unconditionally and irrevocably guaranteed by Ahli Bank; and (b) the guarantee represents direct, unconditional, unsubordinated and unsecured obligations of Ahli Bank ranking pari passu and at least equally with all other unsecured obligations of the bank.

Under the program, ABQ Finance may issue notes up to a maximum aggregate amount of $1.5 billion.

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