Qatar's debt interest costs as a share of government revenue have fallen, and we expect them to remain low because the government is repaying maturing debt. Additionally, the government's revenue stream will be significantly enhanced by the North Field Expansion, whereby Qatari liquefied natural gas production capacity is expected to increase by 64% by 2027. We therefore raised our long-term sovereign credit rating on Qatar to 'AA' from 'AA-', assigned a stable outlook, and affirmed the 'A-1+' short-term rating. On Nov. 4, 2022, S&P Global Ratings raised its long-term foreign and local currency sovereign credit ratings on Qatar to 'AA' from 'AA-' and affirmed its short-term foreign and local currency sovereign credit ratings at 'A-1+'. The outlook is stable. At
