Fitch rates Sabic bond A+

Fitch Ratings said it assigned Sabic Capital I BV's guaranteed five-year bond an expected senior unsecured A+ rating. The bond is guaranteed by Saudi Basic Industries Corp., which has a long-term issuer default rating and senior unsecured rating of A+ and short-term issuer default rating of F1.

The outlook is stable.

The ratings reflect its strong business position as one of the world's largest petrochemicals companies, Fitch said, and its state-of-the-art world-scale production facilities with close proximity to growing Asian markets.

The company benefits from access to competitively priced natural gas feedstock, which results in higher-than-average profitability and cash generation, the agency said.

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