Fitch Removes Qatar from Negative Watch List Amid Ongoing War Concerns

Fitch Ratings has removed Qatar from its negative watch list, maintaining the country's sovereign rating at AA. The decision comes as the US and Israel have been engaged in a war on Iran, which has led to disruptions in the movement of gas exports through the Strait of Hormuz.

The agency cited reduced risks to Qatar's liquefied natural gas (LNG) facilities since March as the reason for removing it from the watch list. However, Fitch maintained a negative outlook on the rating due to ongoing concerns surrounding the impact of the war on the country's credit profile.

This year, other credit agencies such as S&P and Moody's have also affirmed Qatar's ratings, noting that the country's significant financial cushion helps protect it from economic disruptions caused by the war. The agency stated that the impact of the war on the credit profile will take longer to discern.