Moody's rates Qatar Petroleum notes A1

Moody's Investors Service said it has assigned a rating of prospective A1 with a stable outlook to Qatar Petroleum's proposed notes due May 2011.

Moody's said this rating reflects the fact that the notes are unsecured and unsubordinated obligations of Qatar and will rank pari passu with all present and future unsecured obligations of the company.

In accordance with Moody's rating methodology for government-related issuers, the rating is based on a baseline credit assessment of 3; the A1 local currency rating of Qatar; high dependence, reflecting a high degree of integration with the government; and high probability of government support in cases of financial distress, reflecting the vital strategic importance as the government arm for implementing the country's energy policy.

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