S&P affirms Saudi Arabia’s rating at 'A-/A-2' with stable outlook

27/09/2020 Argaam


S&P Global Ratings affirmed Saudi Arabia’s sovereign credit ratings at ‘A-/A-2’ with a stable outlook.

 

The credit ratings agency said in a statement that the Kingdom’s strong net asset-stock position continues to be a major support for its ratings.

 

Meanwhile, the agency lowered its forecast for Saudi economy to shrink from 5% to 4.5% in 2020.

 

It also lowered its forecast for the deficit ratio in the Kingdom's budget this year from 12.6% to 11% of gross domestic product (GDP).

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.