Tassnief affirms Alkhorayef Water’s rating at ‘A-‘

Alkhorayef Water and Power Technologies Co. (AWPT)

Simah Rating Agency (Tassnief) maintained its credit rating for Alkhorayef Water and Power Technologies Co. at “A-” for the long term and “T-3" for the short term.

These ratings reflect a robust credit profile and show high creditworthiness and very low credit risk, Alkhorayef Water said in a statement to Tadawul today, Sept. 5.

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The assigned credit rating grade reflects the positive outlook of Tassnief on Alkhorayef Water. This outlook is based on several key factors, including the company's well-defined strategic plans and strong operational capabilities.

The ratings agency also indicated that Alkhorayef Water's ability to generate strong cash flows and achieve consistent revenue growth further supports its positive outlook, adding that the company's solid financial position and favorable credit indicators demonstrate its ability to meet future financing requirements.

Given its strong financial performance and creditworthiness, the company maintained the highest classification degree, "High Grade", from the relevant regulatory authorities, it added.