S&P affirms Saudi Arabia’s A/A-1 rating

S&P affirms Saudi Arabia’s A/A-1 rating

RIYADH: International rating agency S&P Global Ratings affirmed its foreign and local currency sovereign credit ratings for Saudi Arabia at ‘A/A-1’ with Stable Outlook.

The agency indicated the affirmation was a result of the Kingdom’s economic and social reform agenda in recent years. And is a direction that will improve the Kingdom’s economic resilience and will continue to underpin the development of the non-oil sector and fiscal receipts. S&P affirms Saudi Arabia’s A/A-1 rating