S&P affirms Saudi ratings at ‘A-/A-2’ with stable outlook

28/09/2019 Argaam

 

Standard & Poor’s Global Ratings has affirmed Saudi Arabia’s ratings at “A-/A-2” with a stable outlook.

 

The Kingdom’s oil production is seen to recover quickly after the Sept. 14 attacks on Aramco’s two facilities, the firm said, adding that the stable outlook relies on fast repairs of these facilities.

 

S&P also affirmed Saudi Arabia’s long- and short-term sovereign debt ratings at “A-/A-2”.

The Kingdom is expected to attempt to maintain a balance between spending to support the economy and containing the financial deficit, Reuters reported citing the ratings firm.

 

S&P also expected the Kingdom to boost exports through its Red Sea ports.

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