S1P Reaffirms Nakilat's Credit Rating

10/30/2014 9:56:24 AM

(MENAFN- Qatar News Agency) Doha October 23 (QNA) - Rating agency Standard & Poor's (S&P) has reaffirmed Nakilat Inc's corporate credit rating as AA- with a stable outlook.

In a report published by it S&P said Nakilat's key strengths as being its importance to Qatar's Liquefied natural gas (LNG) sector its ownership of the world's largest LNG fleet and stable cash flows.

Nakilat plays a critical role in the LNG industry which is vital to the Qatar's economy with Nakilat's vessels connecting the LNG supply chain from upstream to downstream said the S&P report.

The primary positive drivers for Nakilat's strong business profile supported by its reliable operating track record since delivery of its first vessel in August 2008 the report said.

Consistent profitability and strong experience in managing and operating LNG shipping are also among Nakilat's founding strengths.

The report also lists the high credit quality of Nakilat's charterers its good relationship with banks and its strong link with the Qatari state - including substantial oversight from and involvement of government officials - among Nakilat's strengths.

Nakilat Managing Director Engineer Abdullah Fadhalah Al Sulaiti said "Our company's financial strength is a valuable asset that has made Nakilat's and the State of Qatar's gas-carrying fleet possible.

"It allows us to strengthen our capabilities as well as expand our business. We are dedicated to continue the enhancement of Nakilat's position as the world's leading LNG shipping company." (QNA)

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