Moody's ups Qatar Petroleum to Aa3

Moody's Investors Service said it upgraded Qatar Petroleum's foreign- and local-currency issuer ratings and its senior unsecured bond rating to Aa3 from A1 following Moody's upgrade of Qatar's sovereign ratings to Aa3.

This concludes the review for upgrade begun on Sept. 7. The outlook is stable.

The agency said its assessments of Qatar Petroleum's default dependence and government support remain unchanged and that given the high support and dependence assumptions, Qatar Petroleum's ratings and outlook will continue to move in line with any changes to Qatar's sovereign rating.

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