Moody’s Raise Tadawul Exchange 4 Listed National Champions, Outlook

Moody’s, a world leading creditworthy rating body, revised up the future outlook of as many as four  companies listed on the Tadawul stock exchange, from negative to stable, with an emphasis on their ratings, as they are considered as not only market giants, but also as the main national economic champions.

The four companies are: Aramco, SABIC, STC, Telecom and the Saudi Electricity.

Credit ratings followed Moody’s, recently taken decision to confirm the Kingdom’s government rating, at the A1 category, changing the country’s future outlook from negative to stable.

Such credit ratings came as a result of confirming the sovereign rating, and also reflect the credit links between the Saudi government and each of the four companies, explaining, the agency announced, in a statement.

 “While these companies benefit to different degrees from their global assets and cash flows, they all have close credit links with the government, albeit they are exposed, to some extent, to local regional and world rapidly changing economic factors and trends.