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SP holds Saudi credit rating at AA-A-1  Join our daily free Newsletter

MENAFN - AFP - 06/06/2014
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(MENAFN - AFP) Standard and Poor's on Friday held its sovereign credit rating for Saudi Arabia, the world's top crude exporter, at AA-/A-1 with a positive outlook.

"In our view, Saudi Arabia's government and external balance sheets remain strong and provide an ample buffer to withstand external shocks, including a drop in oil prices," S&P said in a statement.

"We are therefore affirming our 'AA-/A-1' sovereign credit ratings n the Kingdom of Saudi Arabia," the agency said.

"The positive outlook indicates that we could upgrade #SaudiArabia in the next year if we believe that the government has built on its achievements in private-sector development."

It forecast per capita income of 26,000 in 2014.

Saudi Arabia, on the back of high oil prices, has announced a balanced budget for this year of a record 228 billion, up from 218.8 billion in 2013.

 
 


AFP




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