The credit rating agency Moody's has updated the Kingdom of Saudi Arabia's credit opinion report at “Aa3" with a “stable" outlook. The agency highlighted that the Kingdom's credit profile is underpinned by its large and prosperous economy, supported by its vast hydrocarbon resources, improving institutional effectiveness, and a robust government balance sheet.
Moody's noted that while the Kingdom remains exposed to cyclical declines in oil prices and longer-term risks, continued progress in economic and fiscal diversification will, over time, gradually reduce its reliance on hydrocarbons and exposure to developments in the oil market.
01/12/2025
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