Moody's announces installing Kingdom's credit rating at Aa3 with stable outlook

Moody's Corporation, international credit rating agency, announced today installation of the Kingdom's Sovereign Credit Rating at Aa3 with a stable outlook.
In a statement to Saudi Press Agency (SPA), Dr. Ibrahim bin Abdulaziz Al-Assaf, Minister of Finance, stressed the Kingdom's success in maintaining the raised credit rating despite of the economic pressures accompanied a decline of oil prices, 'this rating reflects a strength of the Saudi economy and its ability to face cyclical fluctuations in addition to the fiscal and monetary policies pursued by the Kingdom under the leadership of the Custodian of the Two Holy Mosques,' Al-Assaf added.