The agency clarified that the four companies are: Saudi Arabian Oil (Aramco), Saudi Basic Industries Corporation (SABIC), Saudi Telecom (STC), and Saudi Electricity (SEC). .
These credit ratings followed Moody's decision issued on November 5, 2021, confirming the government's rating of the Kingdom of Saudi Arabia at (A1) and changing the outlook from (negative) to (stable).
The credit ratings yesterday came as a result of confirming the sovereign rating, and also reflect the credit links between the government of the Kingdom of Saudi Arabia and each of the four companies.
While these companies benefit to varying degrees from their global assets and cash flows, they all have close credit ties with the Kingdom's government, and are exposed to local environmental factors, including political and economic factors. organizational, and social.
The agency indicated that the ratings granted to the four companies were regulated in accordance with the regulations of credit rating agencies, issued by the Board of the Capital Market Authority, which are based on To the Capital Market Law of the Kingdom of Saudi Arabia.
