Moody's upgrades PIF, Aramco, SABIC, STC ratings

-0.09%

Tadawul All Shares Index

TASI.SA

10715.98

-0.09%

Riyadh - Mubasher: Moody's Investors Service raised the ratings of six issuers linked to the Saudi government on Wednesday.

Moody's, according to a statement, raised the long-term issuer ratings from A1 to Aa3 for the following six entities headquartered in the Kingdom of Saudi Arabia, and changed the outlook for all entities from positive to stable.

The classification included the Public Investment Fund ( PIF ), Saudi Arabian Oil Company (Aramco), Saudi Basic Industries Corporation (SABIC), Saudi Electricity Company ( SEC ), Saudi Power Procurement Company ( SPPC ), in addition to Saudi Telecom Company ( STC ).

Today’s rating action comes as a direct result of the upgrade of the sovereign rating of the Government of the Kingdom of Saudi Arabia from A1 to Aa3 with a stable outlook on November 22, 2024.

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.