Doha – Qena:
Industries Qatar (a Qatari public shareholding company) announced that the international credit rating agency “Standard & Poor’s” has affirmed the company’s credit rating, re-assigning it an A+ rating with a stable outlook.
The credit rating stabilization was based on an annual review conducted by the international credit rating agency “Standard & Poor’s” of the current and future financial and operational performance and the financial position of Industries Qatar. The agency took into consideration several factors, including the company’s outstanding liquidity level, the strength of its competitive position in the markets, and its financial policy The rationale, the diversity of its products and final markets, in addition to its high level of integration with the parent entity (Qatar Petroleum).
The credit rating agency, Standard & Poor’s, noted that “IQ’s rational financial policy and ability to generate large cash flows support it in achieving very strong credit metrics.”
In its assessment, Standard & Poor’s considers that the business risks faced by Industries Qatar fall within the “acceptable” levels with “minimum” financial risks. This confirms the company’s ability to achieve outstanding profit margins and strong cash flows from operations thanks to its acquisition of values Competitive prices, efficient assets, upgrading operating levels and enhancing integration among the group’s companies.