Riyadh – Mubasher: Moody's Investors Service assigned an Aaa.sa long term issuer national scale rating (NSR) to the Saudi Arabian Oil Company (Saudi Aramco).
Saudi Aramco's A1 long term issuer global scale rating (GSR) is unchanged. The rating outlook is negative in line with the negative outlook on the Saudi government’s A1 rating, according to a press release.
The oil giant’s Aaa.sa NSR reflects the company's position as the strongest rated corporate in the Gulf nation and one whose credit profile is very closely interlinked with the credit quality of the Saudi government.
Moody's' expected Saudi Aramco to remain largely under government ownership with the government's budget highly reliant upon contributions from the company in the form of royalties, taxes, and dividends.
