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Moody’s changes four Saudi companies’ view to negative
Moody’s Investors Service said it changed the outlook for four Saudi government-related issuers to negative from stable and affirmed their rating. The companies are Saudi Arabian Oil Co. (Saudi Aramco), Saudi Basic Industries Corp. (Sabic), Saudi Telecom Co. (STC) and Saudi Electricity Co. (SEC).
The outlook revision follows Moody’s May 1 decision to affirm the A1 rating of the government of Saudi Arabia and change the outlook to negative from stable.
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