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Agency raised Moody’s credit rating classification The State of Qatar to AA2 and changed its outlook to stable, which reflects the improvement in financial metrics achieved from 2021 to 2023, which is expected to continue in the medium term.
In its report yesterday, Thursday, Moody’s upgraded the long-term debt rating in local and foreign currency of the State of Qatar and in foreign currencies to “Aa2” from “Aa3”.
The agency also raised the rating of Qatar’s medium-term foreign currency securities program to AA2 (P)Aa2 from AA3 (P)Aa3), while changing the outlook from positive to stable.
The upgrade reflects Moody’s view of the significant improvement in Qatar’s financial standards, and this opinion supports the company’s expectations that Qatar will continue to maintain financial prudence.
It is expected – according to the agency – that the significant improvement in Qatar’s debt burden and debt sustainability metrics – which was achieved during the period 2021-2023 – will continue in the medium term.
Qatar will continue – according to the agency – to achieve strong financial surpluses, averaging about 4.5% of… Gross domestic productIn the next five years, according to the agency.
Qatar is the largest exporter of liquefied natural gas in the world, and it is scheduled to increase its production of liquefied gas by 60%, or more, to 126 million tons annually by 2027.
What is the credit rating?
The “AA2” rating means that the country’s risks in repaying debts or issuing new debt instruments are very low, and reflects financial strength and durability in the short and medium term.
AndCredit ratingFor companies, banks, or countries, it means creditworthiness, or the ability of those entities to obtain the necessary loans, and the extent to which they fulfill their obligations on time. Credit rating usually looks at several indicators.
