(MENAFN) S&P Global Ratings has affirmed its 'A-/A-2' unsolicited long- and short-term foreign and local currency sovereign credit ratings on Saudi Arabia with a stable outlook.
The ratings are based on expectation that the Saudi authorities will take steps to consolidate public finances and maintain government liquid assets close to 100 percent of GDP over the next two years, the top ratings agency said in a statement.
The agency expects that the S&P ratings are supported by the kingdom's strong external and fiscal stock positions, it will maintain despite large central government deficits.
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