S&P affirms Qatar

Standard & Poor's said it affirmed the long- and short-term foreign- and local-currency sovereign credit ratings on the State of Qatar at AA and A-1+, respectively.

The outlook is stable.

The transfer & convertibility assessment is AA+.

The ratings reflect Qatar's high levels of economic wealth and the country's strong fiscal and external balance sheets, S&P said.

The ratings are constrained by limited monetary flexibility and rising external risks alongside still-nascent public institutions and limited disclosure, particularly with respect to government assets and their returns, the agency said.

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