(MENAFN) Global ratings agency Standard & Poor's (S&P) has expanded its operations to cover Saudi Arabia with the opening of an office in Riyadh.
Operating from a branch in Kingdom Tower, S&P said it was the first credit ratings agency to carry out activities in the kingdom.
Having previously served in roles at the Saudi Arabian General Investment Authority, Saudi national Meshari Al-Khaled has been appointed as the managing director and office head of the operation.
He said, "As Saudi Arabia's capital markets evolve to match the size of the country's economy, there is a prime potential for greater debt issuance".
Al-Khaled also served in ABN Amro-Alawwal Bank's investment banking unit.
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