Qatar Holding to seek credit ratings
Doha, February 25, 2013
Qatar Holding, the investment arm of Qatar's sovereign wealth fund, said it plans to seek credit ratings this year.
The fund, which has stakes in Credit Suisse, Porsche, Harrods and Xstrata among others, will apply for a rating from both Moody's and Standard & Poor's.
"I can confirm that Qatar Holding will be seeking a credit rating this year," a spokesperson for the fund told IFR late on Thursday.
The Qatar sovereign has ratings of Aa2 from Moody's and AA from S&P, and was most recently in the bond market last summer with a mammoth $4 billion sukuk issue.
Last week, Qatar Holding said the country would establish a new $12 billion investment firm backed by blue-chip assets from the sovereign wealth fund, and list it on the local stock exchange. The new firm would invest in assets around the world.-Reuters
More Finance & Capital Market Stories
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award
- Qatar labour costs may jump: IMF
- Kuwait Q3 trade surplus hits $23bn
- Dubai trade growth up 7.6pc to $362bn
- Deloitte appoints new managing director
- Al Ramz tops UAE trading in Feb
- IFC in $150m loan deal with Bank Audi
- SME funding focus for Abu Dhabi forum
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook