Global credit rating agency Standard & Poor's revised its outlook for Saudi Arabia to "positive" from "stable". It maintained its long-term foreign currency debt rating at "A".
The S&P rating came after Moody's in May maintained Saudi Arabia's credit rating at A1 with a "positive" outlook, in light of the country's comprehensive reforms of the country's economy over the past eight years.
According to the agency, the positive outlook comes as a result of Saudi Arabia's continued efforts in comprehensive reforms and investments, which will contribute to supporting the development of the non-oil economy and the sustainability of public finances.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
