Fitch Ratings has upgraded Saudi Arabia's Long-term local and foreign currency Issuer Default ratings (IDRs) to 'AA-' (AA minus) from 'A+'. The Country Ceiling is also upgraded to 'AA' from 'AA-' (AA minus.) On this occasion, the Minister of Finance Dr. Ibrahim Alassaf expressed happiness for this international certificate by a specialized agency which, he said, is neutral and has professional credibility. In a statement to Saudi Press Agency, he said this sovereign rating of the kingdom reflects the great stability and development in the kingdom and the credibility of the economic policies by the state led by Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz.
