S&P Assigns ‘AA-’ Rating

PARIS - Standard & Poor’s Ratings Services said on Saturday that it has assigned its ‘AA-’ rating to the $3 billion global bond issue by the State of Qatar (AA-/Stable/A-1+).

The senior fixed rate notes have two tranches: a five-year $2 billion bond maturing April 9, 2014, and a 10-year $1 billion bond maturing April 9, 2019. The rating is in line with Qatar’s ‘AA-’ long-term foreign currency issuer credit rating.

The proceeds of the bonds will contribute to the general financing of the State of Qatar’s budget in 2009, including providing funding for entities that it owns or controls.

· business@khaleejtimes.com

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