VOL. XLVII

No 18

03-May-2004

RATINGS

S&P Affirms Saudi Arabias Ratings

Ratings agency Standard & Poors (S&P) on 23 April affirmed its A/A-1 foreign currency and A+/A-1 local currency sovereign credit ratings and stable outlook on Saudi Arabia. According to S&Ps credit analyst, Ala'a Al-Yousuf, the ratings reflect the consolidated general governments favorable balance and net asset position, and strong external liquidity. The general governments balance shows surpluses estimated at...