Fitch agency today, Wednesday, granted a credit rating at (A) to the Saudi Public Investment Fund, in line with the Kingdom's sovereign rating, which gives strong support The Sovereign Wealth Fund and its main role in leading the Kingdom’s economic diversification endeavor.
According to Arab Net, Fitch said it expects the Public Investment Fund to gradually tap the international debt markets while continuing to benefit from stable capital flows from the government during the growth phase of its operations.
The Public Investment Fund manages assets amounting to about $480 billion, and is the main device for promoting Saudi investments at home and abroad in the context of diversifying the Kingdom's economy.
Fitch said that the total assets of the Public Investment Fund at the end of 2021 were equivalent to 57% of Saudi Arabia's GDP.
