Fitch Ratings Affirms Kingdom's Credit Rating at A+ with Stable Outlook
Fitch Ratings affirmed the credit rating of the Kingdom of Saudi Arabia at 'A+' with a stable outlook, according to its recently released report. The agency explained that the Kingdom's credit rating reflects the strength of its financial position and large financial reserves, as government debt ratios and net sovereign foreign assets are significantly stronger than the averages for 'A' and 'AA' ratings. The agency indicated that despite geopolitical conditions, the Kingdom maintained its economic resilience through the flexibility of non-oil activities and its public budget. The agency also expected...
Fitch Ratings Affirms Kingdom's Credit Rating at A+ with Stable Outlook
Fitch Ratings affirmed the credit rating of the Kingdom of Saudi Arabia at 'A+' with a stable outlook, according to its recently released report.
The agency explained that the Kingdom's credit rating reflects the strength of its financial position and large financial reserves, as government debt ratios and net sovereign foreign assets are significantly stronger than the averages for 'A' and 'AA' ratings.
The agency indicated that despite geopolitical conditions, the Kingdom maintained its economic resilience through the flexibility of non-oil activities and its public budget.
The agency also expected real GDP growth to slow to 0.6% in 2026, then rebound in 2027 as the return of navigation flows through the Strait of Hormuz allows for increased oil and petrochemical production, and is expected to return to a growth rate of 2.9% by 2028.
{{displayname}}
{{profession}}
{{followercount}}
{{aboutme}}
Original source: Argaam
Comments (0)
Be the first to comment.