Saudi sovereign wealth fund gets first-ever credit rating
Public Investment Fund prepares for bond issues and lending initiatives
Rating agencies Fitch and Moody’s granted the Saudi sovereign wealth fund (SWF) its first ever credit ratings on February 7. The fund is expected to issue bonds to support the government’s economic diversification plans.
Fitch awarded the Saudi Public Investment Fund an “A” rating, the third highest, with a “stable outlook”. Moody’s gave the fund an “A1” rating, its fifth-highest, in line with Saudi Arabia’s rating.
Founded in 1971, the PIF has $480 billion in assets, according to the
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