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Moody's changes rating outlook of Masraf Al Rayan to stable from negative

Moody's changes rating outlook of Masraf Al Rayan to stable from negative
Moody's has also confimed Al Rayan’s deposit rating at “Aa3”
Al Rayan
MARK
0.59% 2.37 0.01

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.