Saudi Arabia's strong economy reflected in high credit ratings, says analyst
Economic writer Talat Hafiz says Saudi Arabia's robust economy is evident in its high credit ratings and ability to meet financial obligations.
Key Takeaways
AIEconomic writer Talat Hafiz said that Saudi Arabia enjoys economic strength, as reflected in the high ratings it receives from credit rating agencies.
Hafiz, speaking in an interview with Al Ekhbariya TV, added that the Kingdom is capable of repaying its sukuk when due. He noted that most of Saudi Arabia’s sukuk or debt is domestic—exceeding 60 percent—while the remainder is foreign debt. However, the Kingdom has secured favorable rates thanks to the strength of its economy.
He continued that global credit rating agencies such as Standard & Poor’s, Fitch, and Moody’s have assigned Saudi Arabia high ratings with a stable economic and financial outlook. Hafiz pointed out that the Kingdom often repays its debts ahead of schedule, which is a strong indicator of Saudi Arabia’s economic, financial, and investment strength.
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