(MENAFN) Qatar Minister of Finance said that the AA Fitch Ratings update of Qatari credit and the solid status of the economy confirms the strength of credit position for the country, Saudi Gazette reported.
The minister noted that the Fitch upgrade came in a critical period after the decline of energy prices in global market the impact this might have on growth prospects for oil and gas producers.
AA is the highest form of rating that can be given to any country, it means that the country in question have high-grade bonds that have a little risk of default. Qatar has also been given an F1+ rating for short-term debt securities.
The F1+ is the highest rating that could be given to an institution or country for short-term bonds. The minister added that Fitch's update is in line with other rating agencies such as Standard and Poor's and Moody's.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.