Fitch Drops Qatar Rating Watch Negative Amid Improved LNG Risks
Fitch Ratings has removed Qatar from its 'Rating Watch Negative' list and maintained the country's sovereign rating at 'AA'. The decision comes after Fitch assessed that risks to Qatar's liquefied natural gas (LNG) facilities have decreased since March.
The agency still holds a negative outlook for Qatar, citing lingering concerns about disruptions to LNG exports through the Strait of Hormuz. This has resulted in significant losses for Qatar, with estimates suggesting it has lost around $24 billion in gas sales since the conflict began six months ago.
Fitch's affirmation is consistent with other major rating agencies, including S&P and Moody's, which have also maintained Qatar's ratings despite concerns about the impact of the US-Iran conflict on the country's economy.