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Qatar to host international credit rating agencies conference in January

Qatar to host international credit rating agencies conference in January

September 13, 2022 | 11:12 PM
The State of Qatar will host the international credit rating agencies conference on January 23, in a strategic partnership between the Qatar Association of Certified Public Accountants (QCPA) and the Global Compliance Institute (GCI).
The State of Qatar will host the international credit rating agencies conference on January 23, in a strategic partnership between the Qatar Association of Certified Public Accountants (QCPA) and the Global Compliance Institute (GCI). The conference will be held for the first time in Qatar and will witness the participation of international credit rating agencies: Moody's, Standard & Poor's Global Ratings, Fitch Ratings, and Capital Intelligence, as well as a number of international stock exchanges, including the London Stock Exchange.This conference attracts elite experts and specialists in the economic and financial sector to highlight the latest trends in investment and credit ratings.In a statement on this occasion, QCPA chairman Dr Hashim al-Sayed said that the international conference of credit rating agencies is gaining importance in light of the financial, economic and geopolitical crises that the world is going through the supply chain crisis, the inflation crisis and the effects of the Covid-19 crisis.In fact, countries seek to prove their credit and investment worthiness so that they can obtain financing from international bodies and institutions to prevent these crises and mitigate them with minimal losses and without disrupting the development process, as companies or countries with a good or high credit rating can obtain financing under these circumstances with lower interest rates than their poorly rated counterpart.Moreover, al-Sayed explained that a high rating motivates international investors and lenders to underwrite strongly in the offering issued by these countries, as well as create a climate of confidence in the country's economy for capital, thus attracting new cash and investment flows, which in turn raises the value of its currency.A credit rating or creditworthiness is a score that shows the assessment of these agencies of the extent to which a company or country can pay its debts. A weak rating indicates the possibility that the debtor company or country will not be able to meet its obligations, while a high rating means that the debtor can meet all its credit obligations on time without any risks.Al-Sayed added that the conference also aims to promote Qatar and emphasise the strength of its economy and its reliance on strong foundations that protect it from changes. It would also help the country enjoy a high rating based on a set of factors; most notably the record rise in energy prices, the increasing demand for liquefied natural gas globally, in addition to the high private sector exports, causing a rise in need for its products in world markets, which in turn leads it to expand its projects and financing, reflecting positively on the financial conditions, and the accumulated sovereign financial assets of the Qatar Investment Authority.Consequently, the Qatari economy will be appreciated by all international institutions and bodies by enhancing its investment attractiveness and consolidating its position as a regional centre for foreign investment.
 
 
September 13, 2022 | 11:12 PM