Middle East Economic Survey

VOL. LIV

No 28

11-Jul-2011

SAUDI ARABIA

Fitch Affirms SABICs Rating At A+ Reflecting Its Strong Business Profile

Fitch Ratings affirmed on 1 July the Saudi Basic Industries Corporation (SABIC) long term issuer default rating (IDR) at A+, adding that the outlook was stable. In addition, the agency affirmed both SABICs senior unsecured rating at A+ and short term IDR at F1. These ratings reflect both the corporations moderate leverage and its continuing strong...