S&P turns view on two Saudi issuers positive

S&P said it revised the outlooks for Saudi Basic Industries Corp. (Sabic) and Saudi Telecom Co. to positive from stable.

The agency said it considers it extremely likely the Saudi government would aid the companies if in distress; therefore, it aligns their outlooks with the government’s. On March 25, S&P revised its outlook for Saudi Arabia to positive from stable.

The positive outlooks reflect the positive outlook for the government, the agency said.

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