Fitch Ups Saudi Rating
Fitch Ratings has upgraded Saudi Arabia’s long-term and local currency ratings to AA from AA-, with stable outlook. Also the country ceiling has been upgraded to AA+ from AA.
Fitch added that the upgrade reflects
• Saudi Arabia has bolstered its sovereign and external balance sheets, with government deposits in the banking sector rising to 58.7% of GDP at end-2103, compared with general government debt...