{"id":84418,"date":"2024-03-17T00:00:00","date_gmt":"2024-03-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/"},"modified":"2024-03-17T00:00:00","modified_gmt":"2024-03-17T00:00:00","slug":"sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/","title":{"rendered":"S&P affirms Kingdom\u2019s A\/A-1 rating with stable outlook"},"content":{"rendered":"

Still an A\/A-1 for S&P: <\/strong>S&P Global Ratings affirmed the Kingdom\u2019s long- and short-term foreign and local currency sovereign credit ratings at A\/A-1 with a stable outlook on the back of continued economic and social reforms, it said in a statement<\/a> on Friday.<\/p>\n

Driving the decision: <\/strong>The ratings agency pointed to growing investments in relatively new industries including tourism and other non-oil sectors as we look to diversify away from oil. In the long term, S&P expects Vision 2030 projects will lead to a more diversified economy, create jobs, and a result in a inclusive labor force. <\/p>\n

There are risks on the implementation side of the equation<\/strong>, including \u201cfunding pressures, tight supply, and increasing cost of materials, skills shortages, and developing basic infrastructure like housing.\u201d<\/p>\n

Non-oil is key: <\/strong>Investment in non-oil sectors and solid growth in consumption will help keep overall GDP growth at an average of 3.3% each year through 2027, according to S&P Global. The non-oil sector accounts for around 60% of GDP. <\/p>\n

Some pundits see it even higher:<\/strong> Rating agency Moody\u2019s forecasts the Kingdom\u2019s non-oil sector to grow at 5.5%this year on the back of major development projects and a robust economic environment, according to a recent report.<\/p>\n

Durability in the face of energy transition: <\/strong>S&P said it sees the Kingdom showing some resilience to a shift away from fossil fuels due to its wide hydrocarbon reserves and cheaper cost of production. It also highlighted its capabilities to influence global oil prices trends through its capacity as the world\u2019s largest swing oil producer and leadership in OPEC+.<\/p>\n

Some risks remain:<\/strong> S&P Global said it could downgrade ratings in case of \u201csignificant fiscal weakening, demonstrated by an erosion of the government's net-asset position beyond our expectations, or if real per capita GDP growth were to fall sharply on a sustained basis.\u201d Rising geopolitical tensions could also impact ratings, it added. <\/p>\n","protected":false},"excerpt":{"rendered":"

A growing non-oil sector investment and solid growth in consumption will help keep overall GDP growth at 3.3% on average until 2027<\/p>\n","protected":false},"author":1,"featured_media":84419,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2571],"tags":[1534,27,1535,10,1533,573],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economic-diversification","tag-economy","tag-energy-transition","tag-enterpriseam-ksa","tag-sp-global-ratings","tag-vision-2030","wpautop","entry"],"acf":{"mongo_id":"5f3a1da6-1cae-44f2-b686-435f934dd72b","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1370.jpg","photo_position":"above","homepage_title":"","full_issue_title":"S&P affirms Kingdom\u2019s A\/A-1 rating on back of continued economic diversification","related_issue":[84412],"teaser":"A growing non-oil sector investment and solid growth in consumption will help keep overall GDP growth at 3.3% on average until 2027","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.18006ea6-1831-4e8f-9bf4-7a3e34ef3584.mp3"},"yoast_head":"\nS&P affirms Kingdom\u2019s A\/A-1 rating with stable outlook - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&P affirms Kingdom\u2019s A\/A-1 rating with stable outlook\" \/>\n<meta property=\"og:description\" content=\"A growing non-oil sector investment and solid growth in consumption will help keep overall GDP growth at 3.3% on average until 2027\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-17T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"S&P affirms Kingdom\u2019s A\/A-1 rating with stable outlook\",\"datePublished\":\"2024-03-17T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/\"},\"wordCount\":332,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?fit=%2C&ssl=1\",\"keywords\":[\"economic diversification\",\"ECONOMY\",\"energy transition\",\"EnterpriseAM KSA\",\"S&P Global Ratings\",\"Vision 2030\"],\"articleSection\":[\"ECONOMY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/\",\"name\":\"S&P affirms Kingdom\u2019s A\/A-1 rating with stable outlook - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-03-17T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"S&P affirms Kingdom\u2019s A\/A-1 rating with stable outlook\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"S&P affirms Kingdom\u2019s A\/A-1 rating with stable outlook - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/","og_locale":"en_US","og_type":"article","og_title":"S&P affirms Kingdom\u2019s A\/A-1 rating with stable outlook","og_description":"A growing non-oil sector investment and solid growth in consumption will help keep overall GDP growth at 3.3% on average until 2027","og_url":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/","og_site_name":"KSA","article_published_time":"2024-03-17T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"S&P affirms Kingdom\u2019s A\/A-1 rating with stable outlook","datePublished":"2024-03-17T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/"},"wordCount":332,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?fit=%2C&ssl=1","keywords":["economic diversification","ECONOMY","energy transition","EnterpriseAM KSA","S&P Global Ratings","Vision 2030"],"articleSection":["ECONOMY"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/","url":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/","name":"S&P affirms Kingdom\u2019s A\/A-1 rating with stable outlook - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?fit=%2C&ssl=1","datePublished":"2024-03-17T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/sp-affirms-kingdoms-a-a-1-rating-with-stable-outlook\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"S&P affirms Kingdom\u2019s A\/A-1 rating with stable outlook"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1370.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/84418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=84418"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/84418\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/84412"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/84419"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=84418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=84418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=84418"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=84418"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=84418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}