S&P Global Ratings has upgraded Saudi Arabia’s long-term sovereign credit rating to ‘A+’, citing the Kingdom’s sustained socioeconomic and capital market reforms under Vision 2030.The outlook remains stable,

S&P Global Ratings has raised Saudi Arabia’s credit rating for the first time in two years, citing the country’s economic diversification efforts and growth of its non-oil economy. The agency upgraded the kingdom’s rating to ‘A+’ from ‘A’ with a stable outlook on strengthened institutional settings amid Vision 2030 reforms,