Fitch affirms Saudi Arabia's rating at 'AA-' | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.:
"Fitch Ratings has affirmed Saudi Arabia's Long-Term foreign and local currency Issuer Default Ratings (IDRs) at "AA-". The Outlook is Positive. Fitch has also affirmed Saudi Arabia's Country Ceiling at "AA" and Short-Term foreign currency IDR at "F1+".
Fitch Ratings said Saudi Arabia's external balance sheet has been bolstered so far in 2013. Central bank net foreign assets, the bulk of sovereign foreign assets, are up by 4.4 percent of GDP over the first seven months of the year and with no sovereign external debt, the net external creditor position is likely above 100 percent of GDP (from 96 percent of GDP at end-2012). Double-digit current account surpluses are expected each year to 2015, which will further bolster the external position."
'via Blog this'
No comments:
Post a Comment