On Sept. 12, 2005, Standard&Poor's Ratings Services revised its outlook on the State of Qatar to stable from positive, amid unforeseen delays to institutional reform. At the same time, the 'A+' long-term and 'A-1' short-term ratings on Qatar were affirmed. In addition, Standard&Poor's revised its outlook on Qatar Petroleum to stable from positive, and affirmed the 'A+' long-term foreign currency rating on the entity. The outlook revision on Qatar reflects the reduced likelihood of a near-term upgrade, because of the unanticipated delays in planned institutional reform. A new constitution that lays the foundation for limited popular participation in political processes, greater clarity in leadership succession, and more transparency and accountability in governmental operations came into force
