S&P downgrades Qatar Petroleum to AA-

S&P said it lowered Qatar Petroleum’s ratings to AA- from AA and placed them on CreditWatch with negative implications.

S&P said the revision stems from a similar action on Qatar.

The agency equalizes the ratings on Qatar Petroleum with the ratings on Qatar, reflecting its opinion that there is an almost certain likelihood that the government of Qatar would provide timely and sufficient extraordinary support to Qatar Petroleum in the event of financial distress.

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