Riyadh – Mubasher: Moody's Investors Service announced on Thursday that it entered into an agreement with the Saudi government through the National Debt Management Centre (NDMC) to rate the government's local riyal debt issuance starting in June 2020.
On 23 April 2019, the credit rating agency announced its intention to offer National Scale Ratings (NSRs) in Saudi Arabia.
"As the KSA continues to develop its debt capital markets, we expect that investors and other users of credit ratings will find NSRs to be helpful in providing enhanced transparency and greater differentiation among credits within the country," said managing director, Emerging Markets and Global Sovereigns, Commercial Group and Regional Management at Moody's, David Aldrich.
He continued, "NSRs will be particularly beneficial since global scale ratings for most domestic issuers are clustered around a more narrow rating range, and the KSA national scale ratings will divide the ratings more finely within these clusters."
