QATAR: S&P’s sovereign credit ratings on Qatar …AA/Stable/A-1+

Standard & Poor’s Ratings Services has said the transfer of power in Qatar “has no immediate effect on the sovereign credit ratings on the country.”

S&P’s sovereign credit ratings on Qatar are AA/Stable/A-1+.

“We do not expect any significant change in Qatari government policy,” S&P said.

HH Sheikh Tamim bin Hamad al-Thani has been involved in day-to-day matters of the state since being designated crown prince in 2003, the agency said.

“We understand that he broadly agrees with his father’s policies. He chairs the ‘2030 Vision’ project, which outlines the country’s development goals, and the 2022 Supreme Committee that is preparing Qatar for the 2022 FIFA World Cup.

“We expect executive power to remain concentrated in the hands of the Emir, who is also head of state, supreme commander of the armed forces, and currently appoints all the members of the Advisory Council. As a result, we anticipate that the resulting institutional shortcomings in Qatar will remain in place. These include still-nascent public institutions, and limited disclosure, particularly with respect to government assets and their returns.

“Over the coming months, we expect to gain a clearer understanding of the extent to which a change in Emir will lead to a reshuffle of government and ministerial positions, and affect the elections to the advisory council, which are expected later in 2013.”

Source: Gulf Times

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