Moody’s: RasGas, Nakilat to negative

Moody's Investors Service said it affirmed the A1 guaranteed senior secured debt ratings of Ras Laffan Liquefied Natural Gas Co. Ltd. (II) and Ras Laffan Liquefied Natural Gas Co. Ltd. (3).

The agency also affirmed the A1 senior secured debt rating and the A2 senior subordinated debt rating of Nakilat Inc.

The outlooks were changed to negative from stable.

Moody’s said the actions follow the July 4 affirmation of the Aa3 government bond and issuer ratings of Qatar and outlook change to negative from stable.

The negative outlook on Qatar was driven by the economic and financial risks arising from the ongoing dispute between Qatar and a group of countries, including its fellow Gulf Cooperation Council neighbors Bahrain (Ba2 negative), Saudi Arabia (A1 stable) and the United Arab Emirates (UAE, Aa2 stable).

“In Moody's view, the likelihood of a prolonged period of uncertainty extending into 2018 has increased and a quick resolution of the conflict is unlikely over the next few months, which carries the risk that Qatar's sovereign credit fundamentals could be negatively affected,” the agency said in a news release.

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