S&P trims Qatari banks view to negative

S&P said it affirmed its ratings on Qatar National Bank (Q.P.S.C.), the Commercial Bank (P.S.Q.C.), Doha Bank QSC, and Qatar Islamic Bank (S.A.Q) and removed them from CreditWatch with negative implications, where they were placed on June 8. The outlook is negative.

“Our affirmation of the sovereign ratings on Qatar reflects our expectation that Qatari authorities will continue, against substantial macroeconomic pressure, to manage the impact of the boycott on its economy while preserving the country's core rating strengths, including the country's strong public finances,” S&P said in a news release.

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