Industries Qatar May Seek Other Funding Sources After Rating Cut

Industries Qatar (IQCD), the Persian Gulf country’s second-biggest company by market value, will “explore alternative sources of finance” to fund growth, Abdulrahman Ahmad Al-Shaibi, the company’s chief coordinator, said in its 2011 annual report.

Industries Qatar received a AA minus credit rating from Standard & Poor’s last month and a Aa3 rating from Moody’s Investors Service last year. Both ratings were one level below the sovereign-credit grade for the country, Al-Shaibi said.

To contact the reporter on this story: Robert Tuttle in Doha at

To contact the editor responsible for this story: Lars Paulsson at

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