Qatar removed from Fitch’s negative watch list as risks to LNG sites ease

The global ratings agency has also maintained the country’s sovereign rating at AA.Fitch Ratings has removed Qatar from “Rating Watch Negative” while maintaining its sovereign rating at AA amid the US-Israel war on Iran and the Strait of Hormuz blockade.The global ratings agency announced the decision on Friday, citing reduced risks to the country’s liquefied natural gas (LNG) facilities since March.Recommended Stories list of 3 itemslist 1 of 3‘I was born here’: UK art show explores Muslim life, Islamic historylist 2 of 3UAE pardons Egyptian dissident-poet al-Qaradawi facing 10 years in prisonlist 3 of 3Pentagon polygraphs dozens of US military staff over media leaksend of listThe agency, however, kept a negative outlook on the rating, citing ongoing risks surrounding the movement of gas exports through the blockaded Strait of Hormuz.“The impact of the war on the credit profile will take longer to discern,” the agency said in a statement.Qatar, one of the world’s largest gas exporters, continues to face export disruptions and shortages caused by damaged energy facilities during the war on Iran, which began six months ago.Earlier this year, credit agencies S&P and Moody’s also affirmed Qatar’s ratings, noting that the country’s sizeable financial cushion helps protect it from the economic impact of the war.