Saudi Arabia's credit rating outlook was raised to "positive" from "stable" by Standard & Poor's because of an improved outlook for growth in the Arab world's biggest economy.
Saudi Arabia's AA- rating, the fourth-highest investment grade, may be raised in the next 24 months if economic growth "remains strong," the rating company said in a statement. It was the first change in the country's outlook by S&P since 2007.
"Growth fundamentals are strengthening in Saudi Arabia," the rating company said in a statement. "The economy has expanded strongly and steadily."
IslamOnline is the leading and original Islamic portal on the Internet. Based in Dubai IslamOnline's objective is to portray a accurate picture of Islam to the world as well as providing support services for Muslims
and for non Muslims wishing to explore Islam. IslamOnline is the number one source for Islamic content in the Islamic world.