Fitch Keeps Saudi Arabia's A+ Rating Amid Resilient Economy, Healthy External Balance Sheet

Fitch maintained its A+ long-term foreign-currency issuer default rating on Saudi Arabia with a stable outlook, according to a July 10 note. The affirmation is based on the country's strong and healthy external balance sheet, its resilient economy and sound banking industry amid geopolitical risks from the US-Iran conflict. Fitch additionally took note of the kingdom's rising government debt and the expected but temporary narrowing of its fiscal deficit in 2026 due to higher oil revenue.