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Saudi Arabia Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
A1 Positive | A+ Stable | A+ Stable | NR — | NR — |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Mar 16, 2025 | S&P | A/A-1 | Positive | A+ | Stable | |
| Feb 03, 2025 | Fitch | A+ | Stable | A+ | Stable | |
| Sep 14, 2024 | S&P | A- | Stable | A/A-1 | Positive | |
| Apr 05, 2023 | Fitch | A | Stable | A+ | Stable | |
| Mar 17, 2023 | Moody's | A1 | Stable | A1 | Positive | |
| Nov 05, 2021 | Moody's | A1 | Negative | A1 | Stable | |
| Jul 15, 2021 | Fitch | A | Negative | A | Stable | |
| Nov 09, 2020 | Fitch | A | Stable | A | Negative | |
| May 01, 2020 | Moody's | A1 | Stable | A1 | Negative | |
| Sep 30, 2019 | Fitch | A+ | Stable | A | Stable | |
| Mar 22, 2017 | Fitch | AA- | Negative | A+ | Stable | |
| May 14, 2016 | Moody's | Aa3 | Negative Watch | A1 | Stable | |
| Apr 12, 2016 | Fitch | AA | Negative | AA- | Negative | |
| Feb 17, 2016 | S&P | A+ | Negative | A- | Stable | |
| Oct 30, 2015 | S&P | AA- | Negative | A+ | Negative | |
| Aug 24, 2015 | Fitch | AA | Stable | AA | Negative | |
| Feb 09, 2015 | S&P | AA- | Stable | AA- | Negative | |
| Dec 05, 2014 | S&P | AA- | Positive | AA- | Stable | |
| Mar 07, 2014 | Fitch | AA- | Positive | AA | Stable | |
| May 29, 2013 | S&P | AA- | Stable | AA- | Positive |
Table Key
| Grade | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Prime | Aaa | AAA | AAA | AAA | AAA |
High Grade | Aa1 | AA+ | AA+ | AA (high) | AA+ |
Aa2 | AA | AA | AA | AA | |
Aa3 | AA- | AA- | AA (low) | AA- | |
Upper Medium Grade | A1 | A+ | A+ | A (high) | A+ |
A2 | A | A | A | A | |
A3 | A- | A- | A (low) | A- | |
Lower Medium Grade | Baa1 | BBB+ | BBB+ | BBB (high) | BBB+ |
Baa2 | BBB | BBB | BBB | BBB | |
Baa3 | BBB- | BBB- | BBB (low) | BBB- | |
Non-investment Grade Speculative | Ba1 | BB+ | BB+ | BB (high) | BB+ |
Ba2 | BB | BB | BB | BB | |
Ba3 | BB- | BB- | BB (low) | BB- | |
Highly Speculative Grade | B1 | B+ | B+ | B (high) | B+ |
B2 | B | B | B | B | |
B3 | B- | B- | B (low) | B- | |
Substantial Risk Grade | Caa1 | CCC+ | CCC+ | CCC | |
Caa2 | CCC | CCC | CCC | CCC | |
Caa3 | CCC- | CCC- | CCC | ||
Extremely Speculative Grade | Ca | CC | CC | CC | CC |
C | CC | C | |||
In Default with Little Prospect for Recovery | CD | RD | RD | ||
In Default | SD | SD | |||
C | D | D | D | D | |
DD | DD | ||||
DDD | DDD | ||||
Not Rated | NR | NR | NR | NR | NR |
FAQ
What is Saudi Arabia’s current credit rating?
Saudi Arabia’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Saudi Arabia’s credit risk.
Has Saudi Arabia’s credit rating changed recently?
This page lists the latest rating and outlook actions for Saudi Arabia, showing when each agency last reviewed or changed its assessment.
Why does Saudi Arabia’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Saudi Arabia's bond yields, currency, and equity flows as investors reassess risk.
How does Saudi Arabia’s rating compare to other countries?
You can explore how Saudi Arabia ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
What do outlooks like Positive, Stable, and Negative mean?
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
What is the difference between investment grade and speculative grade?
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
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