Moody's credit rating agency has upgraded Qatar's credit rating to AA2 and revised its outlook to stable, reflecting the expected improvement in Qatar's financial metrics from 2021 to 2023.
In a report released today, Moody's Investors Service upgraded Qatar's long-term debt ratings in local and foreign currencies to Aa2 from Aa3.
The agency also raised Qatar's foreign currency medium-term note program rating to (P)Aa2 from (P)Aa3, with a stable outlook.
The upgrade reflects Moody's view of the significant improvement in Qatar's existing financial metrics, supporting the expectation that Qatar will continue to maintain financial prudence.
According to the agency, the significant improvement in Qatar's debt burden and debt-servicing metrics achieved during the period 2021-2023 is expected to continue and likely improve in the medium term. Qatar is expected to continue achieving strong fiscal surpluses averaging around 4.5 percent of GDP over the next five years, according to the agency.
