Fitch Says Saudi Upgrade Likely, Outlook Positive

The country could get a one-notch upgrade if it makes more progress tackling unemployment and diversifying the economy.

Fitch on Wednesday affirmed Saudi Arabia’s AA-minus rating but said the country could see an upgrade in coming months because of progress in handling social stressors and strengthened budget buffers.

Fitch revised the country’s outlook to positive from stable.

The country could get a one-notch upgrade if it makes more progress tackling unemployment and diversifying the economy or on measures to stem the rise in the breakeven oil price, Fitch said in a statement.

To read the full text of this article, Gulf Business March 2013: Fitch Says Saudi Upgrade Likely, Outlook Positive » Gulf Business.

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