Rating agency Standard & Poor's (S&P) has reaffirmed Nakilat Inc.'s AA- rating with a stable outlook. The rating was reaffirmed on November 30th, 2012.
Rating agency Standard & Poor's (S&P) has reaffirmed Nakilat Inc.'s AA- rating with a stable outlook. The rating was reaffirmed on November 30th, 2012.Strong experience in managing liquefied natural gas (LNG) shipping, a reliable operating track record since delivery of its first LNG vessel in August 2008, and improving profitability were among the many factors cited by S&P in support of Nakilat's strong business risk profile.Nakilat Inc.'s parent company, Qatar Gas Transport Company Ltd. — also known as Nakilat — plays a pivotal role in Qatar's energy sector, controlling the world's largest fleet of LNG carriers in support of Qatar's LNG supply chain.Upon confirmation of S&P's rating, Nakilat's Managing Director Muhammad Ghannam said: "Nakilat's rating affirmation is firm evidence of our company's continued prime status in the financial market. Investors, financial institutions and rating agencies appreciate Nakilat's financial strength. This confidence in our company allows us to continue to capitalize on additional high-return investment opportunities, thus maximizing returns for our shareholders."Mr Ghannam added: "Major credit rating agencies Standard & Poor's and Moody's continue to rate the Nakilat Inc. senior debt only one notch below the State of Qatar, which is rated as AA and Aa2 by each agency respectively. Rating agency Fitch also rates Nakilat Inc.'s senior debt as A+. Nakilat Inc. continues to be rated by the agencies as highly as any non-governmental entity in Qatar could be rated. This is indicative of our company's low credit risk, our strong capacity to meet financial commitments and our high credit quality." All ratings for Nakilat stated above were reaffirmed with a stable outlook in 2012.