The global ratings agency has maintained the country’s sovereign rating at AA despite ongoing regional tensions.
Fitch Ratings has removed Qatar from its “Rating Watch Negative” status, reaffirming the nation’s AA sovereign credit rating amidst the US-Israel conflict with Iran and the ongoing Strait of Hormuz blockade.
The global credit ratings agency announced the decision on Friday, attributing the move to diminishing threats to Qatar’s liquefied natural gas (LNG) infrastructure since March.
However, Fitch maintained a negative outlook for the rating, pointing to persistent risks associated with the transit of gas exports through the blockaded Strait of Hormuz.
“The impact of the war on the credit profile will take longer to discern,” the agency stated.
As one of the world’s premier gas exporters, Qatar continues to navigate export disruptions and supply shortages resulting from damaged energy facilities during the six-month-long conflict with Iran.
Earlier in the year, both S&P and Moody’s affirmed Qatar’s credit ratings, highlighting that the country’s substantial financial reserves provide a robust buffer against the economic fallout of the regional war.
