In our view, Qatar's strong net external and fiscal asset positions balance the concentration risk related to the economy's reliance on the oil and gas sector. We are therefore affirming our 'AA/A-1+' sovereign credit ratings on Qatar. The stable outlook reflects our view that Qatar's high economic wealth and strong external and fiscal positions balance its institutional shortcomings and limited monetary flexibility over the next two years. On Sept. 26, 2014, Standard&Poor's Ratings Services affirmed its 'AA' long-term and 'A-1+' short-term foreign and local currency sovereign credit ratings on the State of Qatar. The outlook is stable. We also affirmed the 'AA' long-term issue ratings on the bonds issued by Qatari Diar Finance Q.S.C. and SoQ Sukuk A
