Fitch Upgrades Qatar's Credit Rating on Expected Gas Revenue Growth

Fitch Ratings upgraded Qatar's credit rating to AA, its third-highest rating, due to expected revenues from expanded gas production.

Revenues from Qatar's liquified natural gas (LNG) exports will provide budget surpluses until the 2030s, according to Fitch.

Qatar plans to expand LNG production capacity from 77 million tonnes per year currently to 142 million tonnes by 2030.

The rating upgrade reflects Fitch's confidence that Qatar's debt-to-GDP ratio will remain low compared to peers.

Fitch warned the war in Gaza poses a risk to Qatar's rating if it causes capital flight from banks or disruptions to hydrocarbon and transport sectors.