Fitch Ratings has affirmed Qatar's sovereign rating at AA and removed it from Rating Watch Negative, citing reduced risks to the country's liquefied natural gas (LNG) facilities since March. The decision comes amid the ongoing US-Israel war on Iran and the blockade of the Strait of Hormuz.

The agency, however, maintained a negative outlook on the rating, pointing to persistent risks surrounding the movement of gas exports through the blockaded strait. “The impact of the war on the credit profile will take longer to discern,” Fitch said in a statement.

Qatar, one of the world's largest gas exporters, continues to face export disruptions and shortages caused by damaged energy facilities during the six-month-old conflict. The war has heightened regional tensions, affecting global energy markets and supply chains.

Earlier this year, S&P and Moody's also affirmed Qatar's ratings, noting that the country's substantial financial reserves provide a buffer against the economic fallout. Fitch's latest action underscores the fragile security environment and its implications for the energy sector, even as the rating remains investment-grade.

Source: www.aljazeera.com