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Doha Insurance jumps on S&P rating hike

: Thursday, July 17 - 2014 @ 15:31

The Qatar Exchange 20 Index gained for the fourth day straight, closing 0.84 per cent higher at 13,284.65 points on Thursday, July 17.

Doha Insurance closed 8 per cent higher at QAR27.65. Earlier in the day, Standard and Poor’s Ratings Services raised the insurer’s financial strength and counterparty credit ratings ‘A-’ from ‘BBB ‘. The outlook remains stable.

S&P stated, “The upgrade reflects our view that Doha’s financial risk profile has significantly and sustainably improved following the injection of QAR437 million ($117 million) in April 2014.”

Gérard Al-Fil

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Thursday, July 17- 2014 @ 15:31 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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