Qatar Fund Exceeds $100 Billion as Nation Seeks Higher Rating

Qatar’s sovereign wealth fund had assets under management of more than $100 billion, helping the Gulf nation’s pursuit of a AAA credit rating, according to the Qatar Financial Centre Authority.

A rating upgrade is possible because of the nation’s financial strength, Abdulrahman Ahmad Al-Shaibi, managing director of the government-run authority charged with expanding the nation’s financial services, said in a presentation at the Bloomberg Doha Conference today.

The country will invest $200 billion in infrastructure in the next 10 years, he said.

Qatar wants its credit rating increased by two levels to AAA, putting the world’s biggest exporter of liquefied natural gas on par with countries including Canada and Norway. Apart from making investments in regions such as the U.K., the U.S and Europe, the country plans to spend $140 billion on infrastructure by 2019, three years before hosting the World Cup soccer tournament, to diversify its sources of wealth.

To contact the reporters on this story: Robert Tuttle in Doha at rtuttle@bloomberg.net; Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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