SAUDI ARABIA: MOODY'S UPGRADES KEY RATINGS TO A3 ON THE BASIS OF ROBUST CREDIT INDICATORS.

IPR Strategic Business Information Database | November 15, 2005 | Copyright

Moody's Investors Service has upgraded Saudi Arabia's foreign-currency ratings to A3 from Baa2 to reflect higher oil revenues, a willingness to make some structural changes that strengthen long-term creditworthiness, and a greater economic openness that can only be encouraged by the kingdom's accession to the World Trade Organization (WTO), announced just recently. The new A3 ratings cover foreign-currency government bonds and foreign-currency bank deposits. The local-currency government bond rating was also raised to A3 from Baa1. The short-term foreign currency ...

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