New York, July 18 (FinanceEnquiry.com) – Analysts at Moody’s Investors Service has assigned a long term Aa2 rating to the US dollar trust certificates issued by S0Q Sukuk A QSC. The outlook on the ratings seems stable.
In a research note published yesterday, the analysts mention that the Aa2 rating has been matching with the government of Qatar’s Aa2 issuer rating and stable outlook given that any direct government obligation whose repayment is handled by the State of Qatar receives a rating equivalent to that of the government.
The foreign and local currency rating of Qatar has been supported by the country’s very high economic and government financial strengths. A resource driven economic boom in recent years has generated very high growth rates and boosted per capita GDP on purchasing power parity to the highest level in the world.
Qatar is currently the leading exporter of liquified natural gas (LNG) having a capacity of 77 million tonnes per year. Also, the prudent management of its hydro carbon windfall has enabled the Qatari government to maintain the lowest fiscal breakeven price in the GCC while accumulating significant external assets, the analyst says.
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