Middle East Economic Survey

VOL. XLVIII

No 38

19-September-2005

SAUDI ARABIA

Ratings Suggest SABIC May Seek International Debt After Local Debut

The awarding of ratings to Saudi Basic Industries Corp (SABIC) by Standard & Poor’s and Fitch suggests that the Saudi petrochemical giant will issue an international bond at some stage in the future, although the company is expected first to carry through its plan to debut in the local market. Holding a rating is not a prerequisite...