Qatar’s Sovereign Ratings Affirmed with a Stable Outlook
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Summary
Ref: QA2 2 CRA00-0 1 4 February 2022
Qatar’s 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 Long-Term Local Currency Rating (LT LCR) 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 been affirmed at ‘A1 + ’. The Outlook for the ratings remains Stable.
Rating Rationale
The ratings are supported by Qatar’s strong external position, with significant current account surpluses and substantial government assets under the management of the sovereign wealth fund, the Qa tar Investment Authority (QIA). The ratings are also supported by the sovereign’s very large hydrocarbon reserves, high fiscal strength , and low domestic political risk. T he ratings are constrained by the government’s large…