AA-Rating from Standard & Poor's Should Help QP Raise Planned Borrowings of 9 Billion in 2007

摘要

Standard & Poor's raised its long-term foreign and local currency sovereign credit ratings for the state of Qatar and for Qatar Petroleum (QP) to AA-from A+and its short-term foreign and local currency sovereign credit ratings on Qatar to A-1+from A-1,with a stable outlook."The upgrade reflects the Qatari government's acceleration of reforms and Qatar's strong financial performance,which partially offsets geopolitical risks," explained Standard & Poor's credit analyst,Mr.Luc Marchand.The upgrade is expected to facilitate QP's plans for raising the funding need for its projects,whether in the form of loans or bond issues.