Riyadh - Mubasher: Moody's Investors Service has assigned A1 instrument rating to the planned senior unsecured notes to be issued by SABIC Capital II B.V. and Saudi Basic Industries Corporation (SABIC), with a stable outlook.

Moody's has also affirmed SABIC's A1 long-term issuer rating and A1 senior unsecured ratings of SABIC Capital I B.V. and SABIC Capital II B.V. with a stable outlook, Moody's said in a statement released on Monday.

"SABIC's A1 rating reflects its strong business position in the chemical sector and its ability to weather industry volatility, particularly given its healthy operational cash flows and conservative liquidity profile," Moody's senior analyst Rehan Akbar commented.

SABIC reported an 80.59% year-on-year jump in its net profit during the second quarter of 2018, recording SAR 6.7 billion in Q2-18.