Moody's cuts Qatar Fertiliser

Moody's Investors Service said it downgraded Qatar Fertiliser Co.'s issuer ratings to Aa3 from Aa2.

The outlook is stable.

This concludes a review for possible downgrade that began in November, Moody's said.

The ratings reflect a repositioning of the ratings following a review of the company's positioning within the Qatar Petroleum group of companies, taking into account the corporate legal structure and rating practices for subsidiaries, Moody's said.

The company's role in the government of Qatar's downstream diversification strategy aimed at leveraging the country's natural gas reserves and broadening its economic development is an important rating driver, the agency said.

As a result, the level of parental support, albeit repositioned, still provides a significant rating uplift from Qatar Fertiliser's stand-alone profile in the low A range, which remains unchanged, Moody's said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.