S&P report tips Saudi debt markets

Credit rating agency S&P has described Saudi Arabia’s debt markets as “ready for take-off” in its latest report.

The positive outlook is based on the prediction that the kingdom’s capital markets will play a critical role in the Vision 2030 economic reform plan that is currently underway.

“A robust and high-quality local debt market is key to developing and transforming the economy and could contribute to the funding needs arising from large Vision 2030 projects,” states S&P.

Foreign currency issuance in international markets and local currency debt market growth will spur substantial expansion of the Saudi debt market.

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