Fitch reviews RasGas, Nakilat

Fitch Ratings said it placed Ras Laffan Liquefied Natural Gas Co. Ltd. (II)'s and Ras Laffan Liquefied Natural Gas Co. Ltd. (3)'s A ratings, and Nakilat Inc.'s A and A- ratings on rating watch positive.

The actions reflect the Nov. 27 publication of the Exposure Draft: “Government Related Entities Criteria.”

Fitch said RasGas' and Nakilat's senior debt is currently rated two notches down from Qatar's sovereign rating (AA-/negative) under Fitch's Parent and Subsidiary Linkage Criteria. When finalized, the “Government Related Entities Criteria” will apply to RasGas and Nakilat as they are ultimately owned by the government of Qatar through government-related entities.

The agency said it expects that the rating changes are most likely to factor in a stronger link with the government of Qatar.

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