LONDON (Standard&Poor's) May 13, 2002--Standard&Poor's said today it raised its long-term foreign currency issuer credit and senior unsecured debt ratings on the State of Qatar to single-'A'-minus from triple-'B'-plus, and its long-term local currency issuer credit rating on Qatar to single-'A' from single-'A'-minus. The upgrade primarily reflects the recent reductions in the government's debt and debt-service burdens, and Standard&Poor's expectations that these are now on a downward trend. The outlook is positive. At the same time, Standard&Poor's raised its short-term foreign and local currency issuer credit ratings to 'A-1' from 'A-2'. Standard&Poor's also raised its long-term foreign currency issuer credit rating on Qatar Petroleum (QP) to single-'A'-minus from triple-'B'-plus, in
