In a positive development, Fitch affirms Qatar’s stable AA rating
Fitch Ratings has affirmed Qatar's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at AA with a stable outlook.
The issue ratings on Qatar's senior unsecured foreign-currency bonds are also affirmed at AA, the country ceiling is affirmed at AA+ and the short-term foreign and local currency IDRs at F1+.
The agency said the AA ratings reflect the large sovereign assets, sufficient to finance more than 20 years of present budget deficits, along with its fiscal adjustment efforts, a large hydrocarbon endowment and one of the world's highest ratios of GDP per capita.
Qatar's hydrocarbon dependence is a key rating weakness, with oil and gas extraction averaging 50 percent of GDP and 80 percent of external receipts and government revenues.
Meanwhile, Standard & Poor's affirmed Qatar ratings at AA/A-1+ with stable outlook.
The agency expects Qatar to maintain its strong government net asset position, as fiscal deficits remain relatively moderate.
Courtesy: Qatar-tribune.com
They don't have any other choice but to recognize the truth ...............
This is such good news for all of us - joys