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S&P Revises Saudi Arabia’s Debt Outlook to Positive

The skyline of Riyadh, Saudi Arabia.

The skyline of Riyadh, Saudi Arabia.

Photographer: Bloomberg/Bloomberg
Updated on

Saudi Arabia had the outlook on its debt rating revised to positive from stable by S&P Global Ratings as oil, the kingdom’s main source of income, trades above $100 per barrel. 

S&P revised the outlook while affirming the kingdom’s long-term foreign currency debt rating at A-, its seventh highest level, according to a statement on Friday.