Logo of Moody’s
Moody's Investors Services upgraded its outlook from “Stable” to “Positive” on six Saudi heavy-weight corporates, namely Saudi Aramco, Public Investment Fund (PIF), Saudi Basic Industries Corp. (SABIC), Saudi Power Procurement Co. (SPPC), stc and Saudi Electricity Co. (SEC).
This came after Moody's affirmed Saudi Arabia’s sovereign rating at “A1”, lifting the Kingdom’s outlook to “Positive” from “Stable” on March 17.
The credit rating agency said today’s decision came as a direct result of the Kingdom's “A1” sovereign rating, given that there are credit links between the Saudi government and each of the aforementioned six entities.
Although these businesses benefit — to varying degrees — from an array of international assets and cash flows, they have fundamental credit links with the government and are directly exposed to the local ecosystem.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}