Fitch Withdraws Al Khaliji’s Ratings Following Completion of Legal Merger with Masraf Al Rayan

Fitch Ratings (Fitch) has withdrawn all of Qatar-based Al Khalij Commercial Bank’s (Al Khaliji) ratings including its ‘A’/Rating Watch Negative (RWN) Issuer Default Rating (IDR) and ‘bb’ Viability Rating (VR). This follows the completion of the bank’s legal merger with Masraf Al Rayan (Masraf) which took place on the 30th of November 2021.

Why it Matters?

Fitch has withdrawn all Al Khaliji’s ratings, including the Support Rating and Support Rating Floor as the bank has ceased to exist as a separate legal entity upon the completion of the merger. As such, Fitch will no longer provide ratings or analytical coverage of the bank.

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