Fitch rates Qatar Petroleum, notes AA-

Fitch Ratings said it assigned Qatar Petroleum a first-time long-term issuer default rating of AA-. The agency also gave the company’s proposed notes an expected senior unsecured rating of AA- in line with the company's long-term IDR.

“QP's AA- rating is constrained by that of sole shareholder –– Qatar (AA-/stable) –– given strong links between the company and the sovereign, in line with Fitch's government-related entities (GRE) and parent and subsidiary linkage (PSL) rating criteria,” the agency said in a press release.

The outlook is stable.

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