Fitch Ratings has affirmed Saudi Arabia’s long-term foreign currency issuer default rating at A+ with a stable outlook, emphasizing the Kingdom’s robust fiscal position and continued reform momentum.

According to Fitch, Saudi Arabia’s credit rating reflects the strength of its financial fundamentals.

The agency noted that key indicators such as the sovereign net foreign asset position and the debt-to-GDP ratio are significantly stronger than the averages for countries in the 'A' and even 'AA' rating categories.

Fitch highlighted that Saudi Arabia holds substantial financial reserves, including public sector deposits and other assets, which support macroeconomic stability.

Looking ahead, the agency projected that Saudi Arabia’s sovereign net foreign assets will remain a cornerstone of its credit strength, reaching 35.3% of GDP by 2027.

This figure is well above the average for countries rated 'A,' which stands at just 3.1% of GDP. Fitch also pointed to ongoing fiscal reforms undertaken by the Saudi government aimed at improving budget flexibility and reducing dependence on oil revenues.

These reforms, along with a sustained rise in non-oil revenues, continue to reinforce the Kingdom’s credit profile.