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S&P affirms Saudi Arabia's ratings

S&P affirms Saudi Arabia's ratings
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Mubasher: S&P Global Ratings has affirmed Saudi Arabia's 'A-/A-2' long- and short-term foreign and local currency sovereign credit ratings, with a stable outlook.

"At the same time, we expect that the Saudi authorities will continue to take steps to consolidate public finances over the next two years, while maintaining the government's large stocks of liquid external assets. We could raise the ratings if Saudi Arabia's economic growth prospects improved markedly beyond our current assumptions," the ratings agency said in a report.

Moody's Investors Service Research recently also affirmed Saudi Arabia's A1 ratings, maintaining a stable outlook.