Middle East Economic Survey

VOL. LI

No 49

08-Dec-2008

SAUDI ARABIA

Moody's Assigns A1 Rating To SABIC Capital Bonds

Moody's Investors Service has assigned an A1 senior unsecured rating (positive outlook) to the proposed issue of senior unsecured bonds by SABIC Capital, an indirect wholly-owned subsidiary of Saudi Basic Industries Corporation (SABIC). The bonds will be unconditionally and irrevocably guaranteed by SABIC. They are to be issued under a par-for-par exchange of SABIC Europe's existing...