S&P affirms Saudi Arabia's rating with stable outlook; expects fast rebound in oil production | ZAWYA MENA Edition:
S&P Global Ratings affirmed its ‘A-/A-2’ long and short-term sovereign credit ratings on Saudi Arabia with a stable outlook. The ratings agency said that the stable outlook reflects its expectations that the Kingdom’s oil production will rebound quickly.
The ‘A-/A-2’ is supported by Saudi Arabia’s strong external and fiscal net asset stock positions, S&P said.
“The stable outlook also reflects our view that Saudi Arabia will maintain a pace of moderate economic growth and retain strong government and external balance sheets (net asset-stock positions) over the next two years, despite sizable fiscal deficits and heightened regional tensions,” S&P said.
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