May 8, 2020 / 8:25 PM / a month ago

S&P affirms Qatar's rating at "AA-", outlook at "stable"

May 8 (Reuters) - S&P Global Ratings on Friday affirmed Qatar’s rating at “AA-“, saying it believes the Arab country’s government and external balance sheets will be able to provide sufficient buffers to withstand shocks.

"Despite a sharp economic contraction and low hydrocarbon prices, we don't expect the government's fiscal and external stock positions will materially deteriorate beyond our expectations," the ratings agency said in a statement.

The agency maintained Qatar’s outlook at “stable”.

Reporting by Nilanjana Basu; Editing by Vinay Dwivedi

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