QIIB's $700m fixed rate trust certificates rated at 'A-'
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QIIB's $700m fixed rate trust certificates rated at 'A-'

QIIB's $700m fixed rate trust certificates rated at 'A-'

Fitch Ratings has assigned Qatar International Islamic Bank's $700m five-year trust certificate (Sukuk) issue a final rating of 'A-,' Reuters has reported. Fitch has aligned the issue rating with QIIB's Long-term Issuer Default Rating (IDR) as the Sukuk structure is viewed as an originator-backed/asset-based structure. "The rating for the certificates would therefore be sensitive to any change in QIIB's Long-term IDR," Fitch said.

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