VOL. XLIII

No. 03

17-January-2000

SAUDI ARABIA

Capital Intelligence Raises Long-Term Sovereign Ceiling For Saudi Arabia...

Ratings agency Capital Intelligence (CI) announced on 23 December that it had raised its long-term sovereign ceiling for Saudi Arabia from BBB+ to A-. As a result, the agency has also upgraded the long-term foreign currency ratings of six Saudi banks (see table below). According to a statement released by the agency, the move was a result of "the ongoing process of structural...