We believe Qatar has effectively managed the ongoing boycott's impact on diplomatic ties and trade and transport links. We expect economic growth to accelerate and external accounts to remain in surplus from 2018-2021, except in the event of larger declines in oil prices. We are therefore revising the outlook on Qatar to stable from negative, and affirming the sovereign credit ratings at 'AA-/A-1+'. On Dec. 7, 2018, S&P Global Ratings revised its outlook on Qatar to stable from negative. At the same time, we affirmed our 'AA-/A-1+' long- and short-term sovereign credit ratings. The transfer and convertibility (T&C) assessment is unchanged at 'AA'. The stable outlook primarily reflects our view that Qatar will continue to effectively mitigate the economic and
