Middle East Economic Survey

VOL. XLVIII

No 2

10-January-2005

SAUDI ARABIA

S&P Raises Preem Outlook To Positive

Standard & Poor's (S&P) announced in December that it had upgraded Preem Holdingsoutlook to positive from stable, while affirming its other ratings, including its B+ long-term corporate credit rating. Preem, the largest oil refining and distributing company in Sweden, is owned by Corral Petroleum, which is headed by Saudi Arabian businessman Muhammad al-Amudi (MEES, 8 December...