RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2020-09-30 12:50:00

SAUDI ARABIA RATINGS A-/A-2

SAUDI ARABIA RATINGS A-/A-2

MEOG - Sep 27, 2020 - On Friday, S&P Global Ratings affirmed its 'A-/A-2' unsolicited long- and short-term foreign and local currency sovereign credit ratings on Saudi Arabia. The outlook is stable. The stable outlook indicates that S&P expect Saudi Arabia's relatively strong government and external balance sheets to continue to support the ratings.

Low oil prices and the COVID-19 pandemic are taking a toll on Saudi Arabia's economy and budget; GDP is forecast to contract by 4.5% in 2020, and the general government fiscal deficit to rise to at 11% of GDP. However, from 2021 onward, GDP growth, oil prices, and oil volume exports are expected to rebound as global conditions improve.

S&P Global Ratings' estimate of Saudi Arabia's relatively strong net asset position on both its fiscal and external balances is still a key support to the rating. Nevertheless, prolonged low oil prices and demand will likely erode its net asset position over the ratings horizon.

In S&P's view, the balance of risks is appropriate at the current rating. Therefore, they affirm their 'A-/A-2' long- and short-term sovereign credit ratings on Saudi Arabia. The outlook is stable.

-----


Earlier:

SAUDI ARABIA RATINGS A-/A-2
2020, September, 24, 12:20:00
OPEC+ REBALANCING: 2021
The OPEC+ agreement, along with declines in production elsewhere, including the United States, brought global supply lower than the level of global demand for the first time since mid-2019.
SAUDI ARABIA RATINGS A-/A-2
2020, September, 18, 12:25:00
OPEC RESTORES BALANCE
Energy minister Alexander Novak said Russia "greatly values cooperation with OPEC," and that while overall compliance with the cuts is high, "I would like to urge everyone to view this very seriously and stick to the high level of conformity we were able to achieve."
SAUDI ARABIA RATINGS A-/A-2
2020, September, 11, 12:20:00
OPEC+ PRODUCTION CUT
The OPEC+ agreement called for a decrease in crude oil output by a combined 9.7 million b/d in May and June, a combined decrease of 9.6 million b/d in July 2020, and a combined decrease of 7.7 million b/d in August
SAUDI ARABIA RATINGS A-/A-2
2020, September, 8, 12:45:00
OPEC+ STABILIZES MARKET
Saudi Arabia and Russia agreed to further closely coordinate their work on production cuts, trade and investments.
SAUDI ARABIA RATINGS A-/A-2
2020, September, 7, 11:35:00
БАЛАНС НЕФТЯНОГО РЫНКА
в июле нефтяной рынок достиг баланса, снижение спроса компенсировалось сокращением добычи, запасы нефти в странах ОЭСР снизились на 34 млн баррелей
SAUDI ARABIA RATINGS A-/A-2
2020, September, 7, 11:30:00
OIL PRICES 2021: $50-$55
"My forecast is that the average oil price will be $50-$55/b. But we should expect volatility in general," Novak said.
SAUDI ARABIA RATINGS A-/A-2
2020, September, 1, 14:25:00
SAUDI ELECTRICITY FINANCING $2.4 BLN
The Saud Electricity financing is a 7-year medium-term facility and is unsecured syndicated borrowing.
All Publications »
Tags: SAUDI, ARABIA, RATINGS