Fitch Upgrades Saudi Electricity Company to 'A+'; Stable Outlook

Fitch Ratings has upgraded Saudi Electricity Company's (SEC) Long-Term Foreign- and Local-Currency Issuer Default Ratings to 'A+' from 'A', and removed the ratings from Under Criteria Observation (UCO). The National Long-Term Rating was also upgraded to 'AAA(sau)' from 'AA+(sau)'.

The agency also said in its reports that all the outlooks are Stable.

The upgrade follows a reassessment of SEC's links with the Saudi Arabian government under Fitch's recently updated Government-Related Entities (GRE) Rating Criteria.

SEC's ratings are now equalized with those of Saudi Arabia (KSA, A+/Stable), as the new support score assumes 'Virtually Certain' support from the state, based on GRE Criteria definitions.

Provided by SyndiGate Media Inc. (Syndigate.info).

OTHER NEWS

22 minutes ago

Travel insurance warning as holidaymakers told to be prepared this summer

23 minutes ago

Queen’s schedule and order of play for day one at Cinch Championships

23 minutes ago

Scotland vs Switzerland lineups: Confirmed team news, predicted XIs, injury latest for Euro 2024 game

23 minutes ago

Shopper airs frustrations after opening new hygiene product: 'Don't let companies convince you'

23 minutes ago

A Day in the Life of a California Fast-Food Manager Who Makes $174,000 a Year

24 minutes ago

AFL boss Kane admits umpire error late in Pies' win

24 minutes ago

Tesla owner shares photos of aftermath of dangerous crash: 'The safest cars in the world'

24 minutes ago

Warren Buffett's Berkshire Hathaway trims its stake in Chinese EV maker BYD to 6.9%

26 minutes ago

Tartan Army, and Switzerland, expecting Scotland backlash

26 minutes ago

Ukraine take on Romania with LaLiga top scorer Dovbyk up front

26 minutes ago

Germany's title credentials to be tested in Hungary grudge match

27 minutes ago

Why have the England players cut holes in their socks at Euro 2024?

28 minutes ago

Food bank hosts day camp to empower kids to fight hunger

29 minutes ago

Labour will not change council tax bands, shadow minister says

29 minutes ago

Trains cancelled as drivers refuse to work extra shifts on day of England match

29 minutes ago

Jewish senators alarmed by Alito’s pro-Christian agenda

29 minutes ago

E.coli outbreak - what do we know and what food should I avoid?

29 minutes ago

Apple Watch Series 10 will reportedly be a huge upgrade

29 minutes ago

If I’d put £10,000 into Meta stock at the start of 2024, here’s what I’d have now

29 minutes ago

"He would signal to coach to sub out Ilgauskas" - Gilbert Arenas recalls LeBron James' insane IQ in his first-ever playoff series

29 minutes ago

BTS RM: "Time Flows Differently Outside After a Long While"

29 minutes ago

Brave moment fearless former rugby star chased after teenage stabbers

32 minutes ago

7 warning signs your computer has been hacked — and what to do

35 minutes ago

Netanyahu has dissolved Israel’s war cabinet, officials say

37 minutes ago

Injured cow mowed down by police officer offered ‘idyllic’ retirement home after escaping breeding farm

37 minutes ago

Sparkles and showstoppers reigned supreme at the Tony Awards 2024

37 minutes ago

2024 MLB mock draft roundup: Here's what experts believe will happen in upcoming draft

37 minutes ago

Football fever inspires unusual opera in Germany

37 minutes ago

Free sunscreen as fans dodge heavy rain at Euro 2024

37 minutes ago

August is ‘live’ for a rate hike: Warren Hogan

37 minutes ago

NIH faces Republican call for reorganization

37 minutes ago

Surgeon General Calls for Warning Labels on Social Media Platforms

37 minutes ago

Martin Lewis urges people to check if they qualify for £74,000 pension pot boost

37 minutes ago

Major bank changes from Barclays, Lloyds and Santander in full - see how they affect you

37 minutes ago

Alexei Navalny's daughter, Dasha, celebrates graduating from Stanford

39 minutes ago

Bryson DeChambeau urges PGA Tour and LIV Golf to ‘figure it out’ after US Open triumph

39 minutes ago

England’s resilience against Serbia will ‘build a huge spirit’ at Euro 2024

43 minutes ago

Jane Fonda’s Go-To Breakfast Is Charmingly Relatable

43 minutes ago

National Park crews said to be "devastated" after rare white grizzly bear, cubs, killed in separate traffic collisions

43 minutes ago

Biden ad attacks Trump as 'convicted criminal' in $50M paid media campaign