Fitch affirms Saudi Arabia 'A+' rating on strong balance sheet, fiscal buffers

Fitch Ratings has affirmed Saudi Arabia’s long-term foreign-currency issuer default rating (IDR) at ‘A+’ with a ‘stable’ outlook.  The ratings reflect the country’s 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. In addition, the…