Middle East Economic Survey

VOL. LIII

No 8

22-Feb-2010

SAUDI ARABIA

Moodys Upgrades Saudi Arabia Sovereign, Bank Ratings, Affirms GRIs

Moodys Investor Services has upgraded Saudi Arabias foreign and local currency government ratings to Aa3 from A1 with a stable outlook, it said 15 February, citing the strong state of government finances in the face of oil price volatility and the global economic crisis. The country ceiling for currency bank deposits was also upgraded to Aa3 from A1,...