Sunday 1 March 2015

Fitch gives Saudi Arabia AA rating | The National

Fitch gives Saudi Arabia AA rating | The National:



"One of the top rating agencies has underscored Saudi Arabia’s resilience as an investment destination despite lower oil prices and continued spending.



Fitch has reissued an AA grade with a stable outlook to the country, driven by curtailed government spending and an anticipated recovery of oil prices to US$70 a barrel this year and $80 a barrel next year, along with the country’s ability to remain unaffected by regional conflicts, stability at home and labour and housing market reforms. The country has been at AA since it was upgraded from AA- in March last year.



Saudi Arabia’s net creditor position is still projected to be the fourth-largest of all Fitch-rated sovereigns."



'via Blog this'

No comments:

Post a Comment