The agency said it expects a timely policy response from Qatar’s government to shore up its liquidity, given continued challenges in the international capital markets.
Qatar sold $10 billion in bonds in April, the first Gulf state to raise cash in the debt markets against a backdrop of low oil prices and market uncertainty caused by the coronavirus pandemic.
“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. https://
Income levels in Qatar remain among the highest of rated sovereigns, supporting its strong credit profile, S&P added.
Ratings agency Moody’s (NYSE:MCO) last week cut Saudi Arabia’s outlook, citing higher fiscal risks due to the oil price crash, and uncertainty about its ability to offset the oil revenue losses and stabilize debt.
S&P maintained Qatar’s outlook at “stable”.
