Doha – Mubasher: Capital Intelligence Ratings (CI) has lowered Commercial Bank’s (formerly known as Commercial Bank of Qatar) long-term foreign currency rating (FCR) to "A-" from "A".
Additionally, the short-term FCR is affirmed at "A2", according to a statement.
The ratings agency lowered the bank’s financial strength rating (FSR) to "BBB+" from "A-".
The downward revision in the FSR is mainly attributed to the bank’s “weakening asset quality, tight liquidity metrics, albeit that some are better than peer group averages, dependence on purchased funds given weak deposit generation, and poor profitability”.
The outlook on the FSR is raised to "Stable" from "Negative".
