SAL receives credit ratings from Tassnief

SAL said Tassnief’s ratings demonstrate its high creditworthiness

SAL Saudi Logistics Services Co. has been assigned by SIMAH Rating Agency (Tassnief) a long-term credit rating of “A”, a short-term credit rating of “T-2”, and an additional “A” rating for the company’s sukuk program, with a stable outlook.

The ratings demonstrate the company’s high creditworthiness, indicating a very low credit risk. Nevertheless, the level of risk may fluctuate depending on economic and sectoral conditions, according to a Tadawul statement.

In addition, they highlight Tassnief’s positive view of SAL’s leading position in the ground handling and diversified logistics services market. This is supported by the company’s operational excellence, robust infrastructure, strong cash flow, and sound governance and risk management framework.

The ratings also indicate the company's robust financial position and creditworthiness, enabling it to meet any potential financing requirements for implementing its strategic and expansion plans.

This is the first rating obtained by the company from Tassnief, the statement noted.