Sector reforms behind Saudi Electricity’s credit rating upgrade: CEO

27/11/2020 Argaam

The reforms currently seen in the Saudi electricity sector reflected positively on Saudi Electricity Co. (SEC) leading to an upgrade of the utility provider’s credit rating, Saudi Press Agency reported, citing Chief Executive Officer Fahad Al-Sudairi.

 

This in turn will enhance the state-run utility's financial position and credit status, he added.

 

The top executive also indicated that these reforms will boost SEC's ability to finance its future projects and implement its strategy that aims to make the electricity sector more resilient, sustainable, reliable and efficient.

 

On Nov. 26, Moody's Investors Service upgraded SEC's ratings to A1 from A2 on account of increased government support, maintaining its outlook at negative, according to Argaam's available data.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.