Standard & Poor’s (S&P) has reaffirmed Qatar Gas Transport Co. Ltd (Nakilat) corporate credit rating at ‘AA-‘ with a stable outlook, Gulf Times reported.
In a recent report, S&P highlighted Nakilat’s key strengths as its importance to Qatar’s LNG strategy, ownership of the world’s largest LNG fleet, and stable cash flows.
Nakilat plays a critical role in the LNG industry, which is vital to the Qatari economy, with its vessels connecting the LNG supply chain from upstream to downstream, according to S&P. The primary positive drivers for Nakilat’s strong business profile are underpinned by its reliable operating track record since delivery of its first vessel in August 2008, says S&P in the report.
Consistent profitability and strong experience in managing and operating LNG shipping are also among Nakilat’s founding strengths, according to S&P.
The high credit quality of Nakilat’s charterers, its good relationship with banks, and its strong link with the Qatari state — including substantial oversight from and involvement of government officials — were also listed in the report as being among Nakilat’s strengths.