Moody’s gives Saudi Basic notes A1

Moody's Investors Service said it assigned an A1 instrument rating to the proposed new senior unsecured notes that will be issued by Sabic Capital II BV and unconditionally and irrevocably guaranteed by Saudi Basic Industries Corp.

The agency affirmed Saudi Basic’s A1 long-term issuer rating and the A1 senior unsecured ratings of Sabic Capital I BV and Sabic Capital II.

The outlook is stable.

“Sabic's A1 rating reflects its strong business position in the chemical sector and its ability to weather industry volatility, particularly given its healthy operational cash flows and conservative liquidity profile,” Rehan Akbar, Moody's vice president and senior analyst, said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.