Moody's affirms Saudi Arabia's 'A1' rating, outlook positive

The rating agency Moody's affirmed Saudi Arabia's 'A1' rating, with positive outlook, Saudi Press Agency reported. 

The Kingdom’s rating, according to the agency, came in line with the tangible progress the government has achieved in comprehensive reforms since 2016, as well as the effectiveness of its financial and public policies supporting economic diversification.

The ongoing implementation of various mega projects will boost the growth of real non-oil GDP, especially as such projects are characterized by their precise designing and marketing, which enhances their effectiveness and facilitates their implementation, Moody's noted.