Moody's upgrades Sabic rating

JEDDAH — The rating of the Saudi Basic Industries Corporation (Sabic) has been upgraded.

By Habib Shaikh

Published: Wed 11 Apr 2007, 8:55 AM

Last updated: Sat 4 Apr 2015, 9:06 PM

Sabic is among the highest-rated global chemical companies by Moody's. Moody's Investors Service Limited has assigned a long-term foreign and local currency rating (A1) with a stable outlook to Sabic.

Moody's believes that Sabic's rating reflects the strong global position it has built over the past three decades in the petrochemicals (e.g. ethylene, methanol, MTBE, ethylene glycol, polyolefins) and fertilisers markets. Sabic enjoys a highly competitive cost position.

More news from Business
In-store shopping regains trust


In-store shopping regains trust

What is happening now is that as Covid-19 cases continue to decline, residents are regaining confidence in in-store shopping. This is according to a Kearney study in which UAE respondents cite convenience (51 per cent), enhanced shopping experience (49 per cent) and competitive pricing (44 per cent) as the main motivators driving them back to brick and mortar stores

Business5 days ago