In view of the sharp fall in international oil prices, we have significantly lowered our oil price assumptions for 2020 and 2021. Nevertheless, Qatar's government and external balance sheets currently remain strong and provide a buffer to withstand external shocks. We are affirming our 'AA-/A-1+' foreign and local currency ratings on Qatar. The outlook is stable. On March 26, 2020, S&P Global Ratings affirmed its long- and short-term foreign and local currency sovereign credit ratings on Qatar at 'AA-/A-1+'. The outlook on the long-term rating is stable. As a "sovereign rating" (as defined in EU CRA Regulation 1060/2009 "EU CRA Regulation"), the ratings on Qatar are subject to certain publication restrictions set out in Art 8a of the EU CRA
