Fitch affirms Qatar’s sovereign rating at AA
International rating agency Fitch on Friday affirmed Qatar’s sovereign rating at AA and removed the country from its Rating Watch Negative list. As Asharq Al-Awsat reports, the agency explained the decision by a reduction in risks to Qatar’s liquefied natural gas production facilities since March.
Negative outlook retained
At the same time, Fitch maintained its negative outlook on Qatar’s rating. The agency linked this to continuing risks of disruptions to liquefied natural gas exports through the Strait of Hormuz.
Fitch said additional time was needed to assess the impact of the war on the country’s credit profile. Qatar, one of the world’s largest exporters of liquefied natural gas, is facing export disruptions through the strait and shortages related to damage to energy facilities.
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Previous agency assessments
The rating affirmation came several months after Fitch warned of a possible downgrade of Qatar’s sovereign rating. As Asharq Al-Awsat notes, this occurred amid growing concerns over the security and economic consequences of the war in Iran.
S&P and Moody’s also affirmed Qatar’s ratings earlier this year. According to the outlet, the agencies indicated that the country’s substantial fiscal capacity mitigates the impact of the US and Israeli war against Iran.
