Fitch affirms Saudi Arabia’s rating at 'A+'; outlook Stable

Fitch Ratings affirmed Saudi Arabia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A+' with a Stable Outlook.

The affirmation ratings reflect its strong fiscal and external balance sheets, with government debt/GDP and sovereign net foreign assets (SNFA) considerably stronger than both the 'A' and 'AA' medians, and significant fiscal buffers in the form of deposits and other public sector assets, the rating agency said in a recent report.  

Saudi Arabia’s economic growth is projected at 4.8% in 2026, while deficit is expected to reach 3.6% of the Kingdom’s gross domestic product (GDP) by the end of 2027. Non-oil revenues will continue to benefit from buoyant economic activity and improved collection techniques.

“Reform momentum remains strong with recent steps including a new investment law and a greater opening of the real estate and stock markets to foreign investors,” Fitch added.