VOL. XL

No. 50

15-December-1997

QATAR

Ras Laffan Bonds Downgraded

Moody's Investors Service said on 10 December that it was also reducing its rating onthe $1.2bn of Ras Laffan LNG bonds from A3 (A-) to Baa1 (BBB+) - still investment gradeand above the sovereign ceiling for South Korea - but added that the new rating is onreview for possible downgrade. The move follows the agency's down-grading of South Korea'ssovereign rating by two full notches from A3 (A-) to Baa2 (BBB) announced on the same...