S&P Raises Saudi Arabia Outlook to Positive
29 May 2013 07:24 GMT
 
Saudi Arabia's credit rating outlook was raised to "positive" from "stable" by Standard & Poor's because of an improved outlook for growth in th (more)

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."


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