FITCH Affirms Nakilat Rating at (A)

Doha, July 23 (QNA) - Qatar Gas Transport Company (Nakilat) on Wednesday announced that rating agency FITCH affirmed Nakilat Inc's senior secured debt rating at (A) and its subordinated debt rating at (A-) with Stable Outlooks respectively. Nakilat is a Qatari-listed shipping company established in 2004 by the State of Qatar to own, operate and manage LNG vessels and to provide shipping and marine-related services to a range of participants within the Qatari hydrocarbon sector. It is an integral component of the supply chain of some of the largest, most advanced energy projects in the world undertaken by Qatar Petroleum, Qatargas, RasGas and their joint venture partners for the State of Qatar. It is a joint stock company owned 50 percent by its founding shareholders and 50 percent by the public. The company announced its financial results for the first half of 2014, where its net profit reached QR 446 million compared to QR 360 million in the same period last year, an increase of 24 percent. (QNA)