Moody's confirms the ratings of "Saudi Real Estate Refinance"

Moody's Investors Service has confirmed the issuer's (A2/P-1) ratings of the Saudi Real Estate Refinance Company.

The agency said in a report that the (Namazone) website received its copy, that it changed the company's future outlook from (negative) to (stable).

Moody's also confirmed the issuer's ratings on the Saudi Real Estate Refinance Company's local scale at category Aa2.sa / SA-1.

Moody's decision to confirm the Saudi Real Estate Refinance Company's ratings reflects its expectation that the company will receive government support when needed, given its full ownership by the Saudi government through the Investment Fund The Public Authority for Development (PIF), the Saudi Sovereign Wealth Fund, and the important mandate obtained by the company to develop residential property among Saudi citizens.

This rating action was primarily driven by the agency's decision to confirm the government's A1 ratings and change the outlook from (negative) to (stable). Issued on November 5, 2021.