The action follows the upgrade of the Kingdom of Saudi Arabia's (KSA) Long-term IDR to 'AA-' (AA minus) from 'A+'.
SEC's ratings are aligned with the sovereign's to reflect the government's strong tangible and intangible support for SEC. For more details on the methodology used to analyse the linkage between SEC and the KSA, see the report 'Parent and Subsidiary Rating Linkage' published on 19 June 2007.
SEC is the incumbent vertically integrated electricity utility in the KSA.
Browse
related articles
Fitch upgrades Saudi Electricity Company to 'AA-' on sovereign upgrade
- Saudi Arabia: Thursday, July 10 - 2008 at 07:30
- PRESS RELEASE
Fitch Ratings has upgraded Saudi Electricity Company's (SEC) Long-term Issuer Default (IDR) and senior unsecured ratings to 'AA-' (AA minus) from 'A+'. Following the upgrade, the Outlook on the Long-term IDR is now Stable.
Related stories
Also consider reading:
Digg
Facebook
LinkedIn
Twitter
Browse
related articles
Today's most read articles:
Notes and media contacts
Contact: Gavin MacFarlane, London, Tel: +44 (0)20 7682 7342; Erwin van Lumich, Barcelona, +34 93 323 8403; Andrew Steel, +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.
101 Finsbury Pavement, London, EC2A 1RS
Posted by Anne-Birte Stensgaard, Senior News EditorThursday, July 10 - 2008 at 07:30 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer:
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 AMEinfo.com 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 AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
It looks like you are using a Mac - check out our 
Web Feeds