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Qatar Global Sukuk QSC - On March 6, 2007, Standard & Poor's Ratings Services raised the long term foreign and local currency sovereign credit ratings on the State of Qatar to 'AA-'from 'A+' based on ongoing reforms and strong financial performance. At the same time, Standard & Poor's also raised the short-term foreign and local currency sovereign credit ratings on Qatar to 'A-1+' from 'A-1'. The outlook is stable. In addition, Standard & Poor's raised its long-term foreign currency issuer credit rating on Qatar Petroleum to 'AA-' from 'A+', in line with that on the sovereign, its sole shareholder. The outlook is stable. Standard & Poor's also raised its senior unsecured debt rating on the $700 million notes maturing in October 2010, issued by Qatar Global Sukuk QSC to 'AA-' from 'A+'. The upgrade reflects the Qatar government's acceleration of reforms and Qatar's strong financial performance which partially offset geopolitical risks.
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