Saudi rating affirmed by S&P after oil attack that jolted market

FILE PHOTO: Workers are seen at the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia, September 20, 2019. REUTERS/Hamad l Mohammed/File Photo

DUBAI: Saudi Arabia’s credit ranking was affirmed by S&P Global Ratings as the kingdom recovers faster than expected from the biggest attack ever on its oil industry.

S&P kept the sovereign assessment at A-, four levels above junk and on par with Malaysia and Malta. The outlook remains stable, according to a statement on Friday.