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Saudi Wealth Fund Edges Closer to Green Bond With Moody’s Rating

  • Public Investment Fund plans green bond issuance soon
  • Moody’s gives wealth fund same A1 rating as sovereign
Yasir Al Rumayyan
Yasir Al RumayyanPhotographer: Mohammed Al-Nemer/Bloomberg

Saudi Arabia’s sovereign wealth fund has received the fifth-highest credit rating from Moody’s Investors Service ahead of its plans to tap the international bond market for the first time.

The A1 rating for the $500 billion Public Investment Fund, which matches the agency’s sovereign rating on Saudi Arabia, “reflects its standalone creditworthiness” as well as its “very high level of interdependence” with the government and likelihood that the state would provide it with support if needed, Moody’s said in a statement on Monday.