S&P Global sets up Riyadh office

Riyadh_cityS&P Global Ratings has established an office in the Saudi Arabian capital. The company says it is the first international ratings agency to be licensed to conduct credit ratings in the country. “We are pleased to be able to facilitate access to capital for governments and companies and look forward to supporting the further development of transparent and liquid debt markets in the kingdom,” said John Berisford, president of S&P Global Ratings. Meshari Al Khaled, a Saudi national, has been hired to lead the Riyadh office, which is located in Kingdom Tower in the city centre. “As Saudi Arabia’s capital markets evolve to match the size of the country’s economy, there is a prime potential for greater debt issuance,” said Al Khaled. “Only 15% of listed companies in Saudi Arabia have a credit rating so there is a significant opportunity for S&P Global Ratings to serve investors through our objective evaluation of risk for governments, corporates and financial institutions.” ©2017 funds global mena

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