Riyadh – Mubasher: Fitch Ratings has maintained its long-term rating on Saudi Basic Industries Corp (SABIC) at “A+”.
This rating is deemed the highest in the petrochemicals sector, which reflects the strength of SABIC’s financial position, as well as its ability to achieve its liabilities, according to a statement.
Moreover, Fitch’s rating to SABIC shows international investors’ trust in the Saudi petrochemical producer, in addition to the firm’s capability to attract large investments to the Saudi market in a bid achieve the goals of Saudi Vision 2030.
The international agency's rating was based on some procedures such as predicting stable prices for feedstock during 2018 and SABIC’s strong performance in 2017.
By 12:06 pm KSA time, SABIC's stock rose 0.05% to SAR 105.20.
