We are affirming our ratings on the State of Qatar. The outlook is stable. We expect that Qatar will pursue prudent long-term policies and maintain a strong macroeconomic performance. On June 16, 2009, Standard&Poor's Ratings Services affirmed its 'AA-/A-1+' long- and short-term foreign and local currency sovereign credit ratings on the State of Qatar. The outlook is stable. The ratings on Qatar are supported by the government's solid fiscal and external balance sheets, a prosperous economy with strong growth prospects, and prudent long-term policies. The ratings are constrained by still-nascent public institutions, limited transparency with respect to government assets, and geopolitical risks that face all sovereigns in the region. Qatar's economy is weathering the global downturn well, and
