Credit rating of Saudi domestic sukuk issuances ‘benchmark’ for potential public, private issuers: Official

The credit rating of the Saudi Ministry of Finance’s domestic sukuk issuances represents a benchmark guide for potential issuers from public, as well as private sectors, Al Eqtisadiah reported, citing Fahad Al-Saif, Chief Executive Officer of the National Debt Management Center.

“Moody's assigned A1/Aaa.sa rating to Saudi Arabia's domestic sukuk issuance program; which is considered the highest investment rating. This enhances transparency and ensures the depth of the local debt market,” stated Al-Saif.

Moody’s credit rating further ensures the strength of the domestic debt market by providing a risk-free yield curve, he noted, adding it confirms the creditworthiness of the Kingdom’s sovereign local issuances amid the growing appetite of investors, as well as the private sector companies, and the international issuances onwards.