Qatar – Sovereign Ratings Affirmed with a Stable Outlook
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Summary
Ref: QA24CRA00-01 19 January 202 4
Qatar – Sovereign Ratings Affirmed 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 LT 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 still favourable liquefied natural gas (LNG) prices . The rating s also take into account the country’s capacity to absorb 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 when including these assets . The ratings also continue to be supported by the country’s substantial…