Tassnief issued 12 credit ratings under its 2023 national metric: CEO

Emad Kordi CEO of Simah Rating Agency (Tassnief)

Simah Rating Agency (Tassnief) issued 12 credit ratings for Saudi companies under its 2023 national metric, in addition to hundreds of private credit ratings reports, CEO Emad Kordi told Argaam.

Kordi pointed out that the Saudi-based agency began issuing its first economic report, which assessed the challenges facing the local contracting sector. The report is expected to be published next March, focusing on the financing aspects of sector companies.

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The CEO highlighted Tassnief’s key role in the Saudi capital market as it boosts transparency and reliability among parties involved, besides enhancing the way credit rating works locally and key drivers. This is coupled with the agency’s work mechanism, which guarantees the independence and impartiality of its credit ratings.