We believe that Qatar's substantial fiscal, economic, external, and policy flexibility will act as an effective buffer against the impacts of conflict in the region. However, we now expect a period of disrupted liquefied natural gas (LNG) production and exports will reduce growth and weaken external and fiscal performance over 2026. We affirmed our 'AA/A-1+' long- and short-term foreign and local currency ratings on Qatar. The outlook is stable. On March 13, 2026, S&P Global Ratings affirmed its 'AA/A-1+' long- and short-term foreign and local currency sovereign credit ratings on Qatar. The outlook is stable. The transfer and convertibility assessment remains at 'AA+'. As a "sovereign rating" (as defined in EU CRA Regulation 1060/2009 "EU CRA Regulation"), the ratings on
