Saudi Arabia’s credit rating affirmed at AA-/A-1+

June 8, 2014 12:09 pm

Standard and Poor’s has held its sovereign credit rating for Saudi Arabia, the world’s top crude exporter, at AA-/A-1+ with a ‘Positive’ outlook, AFP has reported. “In our view, Saudi Arabia’s government and external balance sheets remain strong and provide an ample buffer to withstand external shocks, including a drop in oil prices,” S&P said. “We are therefore affirming our ‘AA-/A-1+’ sovereign credit ratings on the Kingdom of Saudi Arabia,” the agency said.