Fitch affirms Saudi Aramco’s rating at A

Fitch Ratings affirmed on Monday its credit rating of Saudi Aramco at (A) .

Fitch Ratings has revised Saudi Aramco’s outlook to stable from negative, with an affirmation of the company’s long-term rating at “A”.

Fitch indicated that Saudi Aramco, the world’s largest oil producer, is benefiting from the generation of strong free cash flow before dividends are distributed, and the recent increase in the borrowing process, but it is still conservative.

It explained that Aramco is characterized by extensive production, huge reserves, low production costs, and expansion in downstream and petrochemicals.

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