Industries Qatar assigned AA3 credit rating from moody’s

Industries Qatar (IQ) announced that the group was assigned an AA3 debut credit rating from Moody’s Investor Services, with a stable outlook. In a statement to the Qatar Exchange website, IQ Chief Coordinator Abdulrahman Ahmad Al-Shaibi said "A credit rating of AA3 places IQ amongst the top tier of international petrochemical and chemical companies, and cements the group’s standing as a highly profitable, low credit risk, world-class producer." "This rating was issued by an internationally-reputable rating agency, Moody’s Investor Services, after thoroughly reviewing the group’s strategy, business plan, key financial policies and governance structure. It acknowledges the underlying credit quality of IQ and the high degree of integration with, and criticality to, Qatar Petroleum and, by extension, the State of Qatar," he added. Industries Qatar, established in 2006, is one of the region’s industrial giants with interests in the production, distribution and sale of a wide range of petrochemical, fertiliser and steel products, and in the provision of facilities management services.