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Fitch assigns ratings to Commercial Bank International

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Fitch assigns ratings to Commercial Bank International

Fitch Ratings assigned A-/F1 long- and short-term issuerdefault ratings to CommercialBank International PSC, with a stable outlook on the long-termrating.

The rating agency assigned the bank a support rating of 1.

Fitch said April 28 that the ratings reflect its view thatthe lender is a key affiliate of Qatar National Bank SAQ, due to its role as the Qataribank's vehicle for lending in the United Arab Emirates.

Fitch assigned CBI a viability rating of "b+", toreflect the bank's limited franchise and relatively less diversified businessmodel than peers.

Qatar National Bank Asset Management holds a 40% stake inCBI, according to S&P Global Market Intelligence data.