Qatar’s Sovereign Ratings Affirmed

Ref: QA19CRA00-2 19 th J uly 201 9

Qatar’s Sovereign Ratings Affirmed

RATING ACTION

Capital Intelligence Ratings (CI Ratings or CI ) , the international credit rating agency, today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FC R ) and Long-Term Local Currency Rating (LT LC R) of Qatar at ‘A A- ’ . The sovereign’s Short-Term Foreign Currency Rating (ST FC R ) and Short-Term Local Currency Rating (ST LC R ) have also been affirmed at ‘A1 + ’. The Outlook for the ratings remains Stable.

RATING RATIONALE

The ratings balance substantial government assets under the management of the sovereign wealth fund , the Qatar Investment Authority (QIA) , and very large hydrocarbon reserves against the economy’s limited diversification and substantial geopolitical risks. The ratings also take into account low domestic political stability risks, low transparency of economic data, moderate central government…