Moody’s Assigns (P)A1/Aaa.sa Rating to Saudi Arabia’s Domestic SAR-Denominated Sukuk Issuance Programme

Moody’s Investors Service (Moody’s) has assigned a provisional (P)A1 senior unsecured medium-term note global scale rating (GSR) and Aaa.sa senior unsecured national scale rating (NSR) to the Government of Saudi Arabia’s domestic SAR-denominated Sukuk Issuance Programme, according to a recent statement. Concurrently, Moody’s has assigned an A1/Aaa.sa senior unsecured GSR/NSR to the latest Sukuk instrument issued under the Programme.

The respective GSR ratings mirror Saudi Arabia’s A1 issuer GSR, the latter of which is underpinned by the Government’s strong balance sheet and external liquidity buffers. The Government is obligated to make payments associated with the Sukuk instrument an...