Fitch Ratings has upgraded Saudi Aramco's rating to A+, with a stable outlook, according to its recent report.
And the agency indicated that raising its rating for the company comes after raising the rating of Saudi Arabia recently, in view of the close ties between the company and the government.
She pointed to the strength of the company's financial position supported by its strong free cash flows before dividends and its conservative financial and net cash policies, in addition to large-scale production, large reserves, low production costs and expansion in downstream and petrochemical business.
Okaz (Jeddah) @okaz_online