Fitch: Qatar International trust certs A-

Fitch Ratings said it assigned Qatar International Islamic Bank's $700 million five-year trust certificate issue a final rating of A-. The issuing entity is QIIB Sukuk Funding Ltd.

The agency said the final rating is assigned following the receipt of final documents conforming to the information previously received and the closing of the transaction.

The rating for the certificate is the same as the expected rating assigned on Oct. 4.

Fitch said it aligned the issue rating with QIIB's long-term issuer default rating as the Sukuk structure is viewed as an originator-backed/asset-based structure. The rating for the certificates would therefore be sensitive to any change in QIIB's long-term issuer default rating.

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