Global ratings agency Fitch removed Qatar from "Rating Watch Negative" and maintained its sovereign rating at "AA" on Friday, citing reduced risks to its LNG facilities since March. However, the agency kept Qatar's outlook at "negative", citing lingering risks from the disruption of LNG exports through the Strait of Hormuz. "The impact of the war on the credit profile will take longer to discern," the agency said in a statement. One of the world's largest liquefied natural gas exporters, Qatar has been dealing with disruptions to exports through the Strait of Hormuz and shortages linked to damage at energy facilities. The affirmation comes months after Fitch warned of a downgrade of the Qatar sovereign as concerns about the security and economic fallout from the Iran war intensified. Peers S&P and Moody's had also affirmed Qatar earlier this year, saying the country's "sizable" fiscal profile cushions the impact of the US-Israeli war on Iran.
