LONDON -- Standard&Poor's CreditWire 2/1/96 -- Standard&Poor's assigns its triple-`B' foreign currency rating to the State of Qatar. The outlook is stable. The foreign currency credit rating is based on Qatar's responsible economic management, large natural gas resources, high per capita income and moderate, but rising, public and external debt burdens. The financial flexibility afforded by the government's undisclosed, but probably sizable, foreign assets, also supports the rating. Creditworthiness is constrained, however, by Qatar's small, open, and narrowly based economy - - with oil, excluding downstream activities, accounting for over a quarter of annual GDP -- and security risks posed by an uncertain geopolitical environment. Substantial public investment in social and physical infrastructure have raised living
