Fitch raises GreenSaif, TMS Issuer notes

Fitch Ratings said it raised its ratings on GreenSaif Pipelines Bidco Sarl, its $1.5 billion of 6.51% notes due 2042, its $1.5 billion of 6.129% notes due 2038 and the global medium-term note program they were issued under to A+ from A. The agency also upgraded TMS Issuer Sarl’s $1.5 billion 5.78% senior secured sukuk due 2032 in line with GreenSaif's higher issuer rating.

The issuers are closely tied to Saudi Arabian Oil Co., which was recently upgraded to A+ from A, the agency explained.

The outlook is positive.

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