Moody's upgrades Saudi Arabia rating

16 February 2010

Moody's Investors Service has affirmed the ratings of its government-related issuers in Saudi Arabia, following Moody's upgrade of the kingdom's sovereign ratings to 'Aa3' with 'Stable' outlook. Ratings affected include the 'A1' issuer ratings of Saudi Electricity Co, the 'A1' issuer ratings of Saudi Basic Industries Corp (Sabic) and the 'A1' issuer ratings of Saudi Telecom Co (STC). The outlooks of the three entities were placed on 'Stable' from 'Positive'.

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