The Kingdom of Saudi Arabia won a rating of ‘A’ in economic and financial sectors, attributed by the international rating agency Fitch in its first evaluation of the Kingdom.
Commenting on the new rating issued by Fitch, Minister of Finance Dr Ibrahim Al-Assaf said in a statement to the Saudi Press Agency (SPA) that the rating boosts the credibility and strength of the Saudi economy and the financial sector. He said that Fitch also gave Saudi Arabia the rating “stable” for outlook.
Al-Assaf noted that the Fitch ratings and the previous rating by SandP reflect the analysis of two independent agencies considered the largest and most renowned international rating companies worldwide, due to their analytical capabilities and professional credibility.
The Minister noted that the ratings are based on the political, economic and social situation of the country, and personal interviews with a large number of Saudi officials.
Dr Al-Assaf added that the sovereign rating of a country is considered comprehensive, and it objectively assesses the points of weakness and strength alongside capabilities of the country’s economic, political and social structure.
Source: SPA
