BRIEF-S&P Says Saudi Arabia 'A-/A-2' Ratings Affirmed Outlook Remains Positive On Strong Fiscal And Economic Growth Dynamics

BY Reuters | CORPORATE | 09/16/22 04:26 PM EDT

Sept 16 (Reuters) - S&P:

* S&P SAYS SAUDI ARABIA 'A-/A-2' RATINGS AFFIRMED; OUTLOOK REMAINS POSITIVE ON STRONG FISCAL AND ECONOMIC GROWTH DYNAMICS

* S&P - HIGH GLOBAL OIL PRICES, INCREASED OIL PRODUCTION ALONGSIDE STRONGER NON-OIL ECONOMIC GROWTH SUPPORTING SAUDI ARABIA'S FISCAL, EXTERNAL METRICS

* S&P ON SAUDI ARABIA SAYS ONGOING MACROECONOMIC REFORMS SHOULD HELP BOOST ECONOMY'S PRODUCTIVE CAPACITY, SUPPORT LONGER TERM GROWTH & FISCAL TRAJECTORY

* S&P - POSITIVE OUTLOOK REFLECTS SAUDI ARABIA'S RELATIVELY ROBUST GDP GROWTH, FISCAL TRAJECTORY TIED TO IMPROVED OIL & NON-OIL SECTOR DYNAMICS AMONG OTHER THINGS

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article