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FINANCIAL NEWS
Fitch affirms Saudi AA-minus rating, outlook revised to positive
21 Mar 2013
(MENAFN) Fitch announced that it has confirmed its AA-minus rating for Saudi Arabia, and upgraded its outlook from stable to positive, reported Arabian Business.
However, due to the improvement in dealing with social pressures and toughened budget shields, the ratings agency may upgrade the Kingdom’s rating in the next few months.
It added that in case the unemployment issue is handled in a better way, and if the country managed to diversify its economy or make a progress on measures to curtail the increase in the breakeven oil price, Fitch could upgrade Saudi rating by 1 notch.
It is worth noting that the Arab World’s biggest economy is reforming its expatriate-heavy labor market, with the government’s efforts managing to create over 600,000 job opportunities to nationals in the private sector, so far.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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