Real estate related news and press releases covering MENA region.
Fitch affirms Qatar Real Estate Investment rating at BBB+
May 24, 2012
Fitch Ratings has affirmed Qatar Real Estate Investment Coĺs (Alaqaria) Long-term Issuer Default Rating (IDR) and senior unsecured rating at 'BBB+', and Short-term IDR at 'F2,' Reuters has reported. "The ratings reflect Alaqaria's strong business model, robust lessor profile and above-average lease duration for the region,ö Fitch said. ôFinance leases provide stable, long-term rental income, which are underpinned by off-take arrangements with Qatar Petroleum and government-related entities typically 10-15 years' duration, and operational leases agreements of between five and 25 years with Qatar Petroleum -related companies," said Bashar Al Natoor, director in Fitch's EMEA Corporates team in Dubai.