Moody’s changes Nakilat to stable

Moody’s Investors Service said it affirmed the A1 senior secured debt rating and the A2 senior subordinated debt rating of Nakilat Inc.

The outlook was changed to stable from negative.

The agency said the action follows the affirmation of Qatar's Aa3 long-term issuer and foreign-currency senior unsecured debt ratings and change in outlook to stable from negative.

Moody’s said the actions on Nakilat reflect that it is a government related issuer (GRI) and that the ratings benefit from an assumption of extraordinary support, if required, from Qatar to avoid a default on their debt obligations, which leads to a significant uplift from the standalone credit strength, or baseline credit assessment, of the project.

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