Fitch ratings has upgraded Saudi Arabia’s Long-term foreign-currency issuer default rating (Idr) to ‘A+’ from ‘A’, with stable outlook.
This reflects Saudi Arabia's strong fiscal and external balance sheets, with government debt/GDP and sovereign net foreign assets (SNFA) considerably stronger than both the 'A' and 'AA' medians, and significant fiscal buffers in the form of deposits and other public sector assets, the agency said in its report.
