Qatar – Sovereign Ratings Affirmed with a Stable Outlook
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Summary
Ref: QA2 3 CRA00-0 2 21 Jul y 202 3
Qatar – Sovereign Ratings Affirme d with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Long-Term Local Currency Rating (LT LCR) of Qatar at ‘AA’ . The sovereign’s Short-Term (ST) FC R and ST LC R have been affirmed at ‘A1 + ’. The Outlook for the ratings remains Stable.
Rating Rationale
The ratings reflect the sovereign’s very strong external balances and budgetary performance, supported by favourable liquefied natural gas (LNG) prices . The rating s also take into account the country’s capacity to absorb future external or financial shocks given the large portfolio of foreign assets held by the Qatar Investment Authority (QIA) and consequent comfortable net external creditor position. The ratings continue to be supported by the country’s substantial low-cost hydrocarbon…