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This follows the change in the Outlook of the Kingdom of Saudi Arabia's ('KSA') 'A+' Long-term IDR to Positive from Stable (see 'Credit Analysis on Kingdom of Saudi Arabia', available shortly at www.fitchratings.com ).
SEC's ratings are aligned with those of the KSA due to the government's strong tangible and intangible support for SEC. The IDR of SEC is therefore likely to be upgraded if the sovereign ratings are upgraded, depending on an updated evaluation of linkage and support mechanisms and the group's standalone credit fundamentals.
SEC is the incumbent vertically integrated electricity utility in the KSA.
Fitch changes Saudi Electricity Company's rating Outlook to Positive
Fitch Ratings has today changed the Outlook on Saudi Electricity Company's ('SEC') 'A+' Long-term Issuer Default ('IDR') rating to Positive from Stable. Its senior unsecured debt class rating is affirmed at 'A+'.
- Saudi Arabia: Wednesday, August 01 - 2007 at 15:31
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Contact: Erwin van Lumich, Barcelona, Tel: +34 93 323 8403; Andrew Steel, London, +44 (0)20 7862 4086.Media Relations: Peter Fitzpatrick, London, Tel: + 44 (0)20 7417 4364.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
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Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, August 01 - 2007 at 15:31 UAE local time (GMT+4)
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Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
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