Riyadh – Mubasher: Standard and Poor’s has affirmed Saudi Arabia's ‘A-/A-2' long- and short-term sovereign credit ratings, with a stable outlook.

The global rating agency stated that it expects the kingdom’s oil output to return to normal levels following the attacks on Aramco’s oil facilities on 14 September, according to a statement.

S&P noted that its estimate of Saudi Arabia’s strong net asset position on both its fiscal and external balances is critical for the rating.

“Geopolitical risks remain high. The rating could come under downward pressure in a scenario in which Saudi Arabia's oil infrastructure was subject to repeated foreign attacks, weighing on economic, fiscal, and external performance,” S&P revealed.

Saudi Arabia launched a new fast tourist visa that would benefit tourists from 49 countries. The top Arab economy signed memoranda of understanding and agreements with regional and international investors with a total value of SAR 100 billion ($27 billion) to boost tourism.