S&P raises Saudi Arabia’s rating to A+

Saudi Arabia’s credit rating was upgraded by S&P Global Ratings to A+ from A with Stable outlook.

In a statement, the rating agency said the upgrade was driven by sustainable socioeconomic reforms, and the Kingdom’s efforts to diversify the economy from oil pay off, including deepening domestic capital markets.

Saudi Arabia’s outlook reflects strong growth in non-oil sectors and the capital market development.

“We project strong real GDP growth averaging 4% over 2025-2028,” S&P Global added.

Over the past three years, the Kingdom received several credit rating upgrades from global agencies. These upgrades reflect the continued efforts of the Kingdom toward economic transformation amid ongoing structural reforms, as well as the adoption of financial policies that contribute to maintaining fiscal sustainability, enhancing financial planning efficiency, and strengthening the Kingdom’s financial position.