Moody’s Saudi Arabia eyes expansion in corporate sector

Moody's Investors Service Saudi Arabia is planning to expand operations in the local corporate sector, Mahmoud Totonji, General Manager and Head of Relationship Management, for the Kingdom of Saudi Arabia, told Al-Eqtisadiah on Monday. 

Totonji added that he expects more demand for credit ratings going forward amid a growing interest in accessing debt capital markets.

The Saudi government is planning to privatize several companies, of which some may tap the debt capital markets to raise financing.

Moody’s could also benefit from opportunities arising from mega infrastructure initiatives, such as NEOM, he added.

The Riyadh-based office is aiming to support foreign investors, so as to lure more investments to the Kingdom.