The US credit rating agency, Fitch, changed the future outlook of the Saudi oil giant, Aramco, from negative to stable.
Fitch said, in a statement issued today, Tuesday, that it is changing Aramco’s future outlook from negative to stable, and affirming its credit rating at the “A” level.
The credit rating agency added that adjusting the future outlook of Saudi Aramco was motivated by a similar move at the sovereign level.
It is estimated that Aramco will achieve 85 billion riyals of net profit for the second quarter of this year, which the company will announce soon.
Source: “Reuters” + agencies