On Sept. 13, 2024, we revised our rating outlook on Saudi Arabia to positive from stable reflecting the potential that ongoing reforms and investments will strengthen the economy while keeping public finances at sustainable levels. In our view, this could strengthen the government's capacity to extend extraordinary support to systemically important banks in case of need. We view the intrinsic creditworthiness of Saudi National Bank (SNB), Al Rajhi Bank (ARB), and Riyad Bank as stronger than that of other rated Saudi banks. Therefore, we revised our outlooks on SNB, ARB, and Riyad Bank to positive from stable and affirmed our ratings on these banks. DUBAI (S&P Global Ratings) Sept. 18, 2024--S&P Global Ratings today revised its outlook on Saudi Arabia-based
