Moody's: Industries Qatar Aa3

Moody's Investors Service said it assigned a long-term local-currency issuer rating of Aa3 to Industries Qatar QSC.

The outlook is stable.

The rating primarily reflects the company's financial and operational integration into the Aa2-rated Qatar Petroleum as a result of the holding's strategically important position as a Qatar Petroleum subsidiary, Moody's said.

Through this position, Industries Qatar manages key shareholdings that are part of the critical domestic downstream activities within Qatar Petroleum's broader diversification strategy, the agency said.

The rating combines the company's fundamental credit quality and its high support from and high dependence on the Qatari government, Moody's said.

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