Aramco and PIF among 6 Saudi Arabian Companies to Experience Upgraded Outlook by Moody’s

Moody’s changed the outlook on the rating of the State Investment Fund of Saudi Arabia from stable to positive, confirming the rating at
A1 reflects the creditworthiness of the fund.

The ‘A1’ rating assigned by Moody’s to a fund reflects the fund’s creditworthiness, and when linked to the approved rating methodology, this results in an ‘Aa2’ performance assessment.

Moody’s took into account several factors in rating the fund, including the size of assets under management, supported by the fund’s strong growth in investment returns, the high quality of the fund’s investment portfolio, and the diversity of sectors in which the fund operates. invests both locally and internationally.

The agency also changed its outlook from stable to positive for 5 other Saudi companies, including Saudi Aramco, SABIC, stc, Saudi Electricity Company and Saudi Energy Purchase Company.

The PIF report highlights the strength of the fund’s financial position, its ability to grow its assets, the quality and diversity of its investment portfolio, and the steady growth of its earnings.