Moody's raised Saudi Arabia's long-term foreign debt rating from A1 to Aa3.
Moody's raised its foreign issuer rating from A1 to Aa3, and the outlook from positive to stable.
Comments and Background
The rating upgrade reflects our assessment that economic diversification will continue and maintain this momentum. Over time, continued progress will further reduce Saudi Arabia's exposure to oil market developments and long-term carbon transition.
Credit Rating Overview
Fitch's long-term foreign currency debt rating is A+, with a stable outlook.
Standard & Poor's long-term foreign currency bonds rating is AAu, with a positive outlook.