Moody's affirmed Saudi Arabia's credit rating at 'Aa3' with a stable outlook, citing the economy's resilience to geopolitical shocks and its structural maturity in line with Vision 2030. The agency highlighted flexible logistics, including the "East-West" pipeline, and the non-oil sector's growth.
Moody's affirmed Saudi Arabia's credit rating at Aa3 with a stable outlook, highlighting the economy's resilience to geopolitical shocks, particularly the Strait of Hormuz closure. The agency praised logistical alternatives like the "East-West" pipeline and progress in "Vision 2030" for maintaining oil flows and fostering structural maturity.
Tasmania's budget aims for $1.47B in cuts and 1,700 job reductions to tackle debt. S&P Global doubts achievability due to spending pressures, while economist Saul Eslake sees a credible, albeit grant-reliant, effort. Labor and unions criticize cuts, especially to health.
CoreWeave has been raising debt to finance its data center buildout, and S&P boosted the company's credit rating.
CoreWeave has been raising debt to finance its data center buildout, and S&P boosted the company's credit rating.
CoreWeave has been raising debt to finance its data center buildout, and S&P boosted the company's credit rating.
S&P Global Ratings has reaffirmed South Korea's 'AA' sovereign credit rating with a stable outlook, noting that the nation's strong electronics sector and fiscal policy are expected to mitigate risks from the global energy market.
Chinese battery cell manufacturers are poised to benefit from the US-Israeli war in Iran, according to Fitch Ratings, even as fierce competition, overcapacity and thin margins weigh on some downstream firms. Global demand for energy storage was set to rise, driven by high oil prices and rapidly expanding artificial intelligence (AI) data centres, said Wang Ying, a managing director at the credit rating agency. “We believe that China’s leading energy storage cell manufacturers will be the bigger...
Hyundai Rotem, the defense systems manufacturing arm of Hyundai Motor Group, has received credit rating upgrades from all three major domestic appraisal agencies — Korea Ratings, Korea Investors Service, and NICE Investors Service — moving from A+ to AA-. The upgrade reflects the company's strong debt repayment capability, improved earnings, and financial stability, supported by a record order backlog of around 30 trillion won and its first-ever annual operating profit of 1 trillion won.
RIYADH: Ports across Europe, the Middle East and Africa are broadly well-positioned to absorb the economic shock of a prolonged Iran conflict and a potential closure of the Strait of Hormuz, with most maintaining sufficient rating headroom, Fitch Ratings said. Despite the war significantly disrupting global oil and gas flows through the narrow channel along the Iranian coast, many ports in the region have robust financial profiles and diversified cargo bases, providing a buffer against potential revenue losses, said the credit rating agency in its latest analysis.
