Moody's rating reflects PIF's exceptional investment ability: Official

Fahad AlSaif, Head of Global Capital Finance and Investment Strategy and Economic Insights Division at the Public Investment Fund (PIF), said Moody's upgrade of the fund's credit rating reflects its exceptional ability to execute its investment strategy while maintaining robust creditworthiness and quality.

AlSaif added that the high credit ratings highlight PIF's role as a leading global investment entity, dedicated to creating sustainable value and implementing impactful investment projects both locally and internationally.

The fund continues to spearhead economic transformation and progress in Saudi Arabia, he noted.

Last week, Moody's upgraded its outlook on PIF from “A1” to “Aa3”, with the outlook changed from “Positive” to “Stable”. This was a direct result of the recent sovereign rating upgrade of Saudi Arabia to “Aa3” from “A1”, with a stable outlook, according to Argaam data.