Maaden receives first credit rating with ‘stable’ outlook

Saudi Arabian Mining Co. (Maaden) has received its first credit ratings from Moody’s at “Baa1” and Fitch Ratings at “BBB+” with a “stable” outlook, according to the company’s statement.

These ratings underpinned Maaden’s diversified business model being a globally leading firm in terms of commodities including phosphate, its integrated aluminium value chain and its resilience to expand in base and new metals.

These ratings further reflect the sustainability of Maaden’s operations, the company’s cost efficiency prominence and strong financial position.

This followed Saudi Arabia’s latest credit rating aligning with the positive momentum as well as the Kingdom radical transformation in line with Vision 2030.

“These investment ratings correspond to boosting the company’s operations while fulfilling long-term goals,” stated CEO Robert Wilt, adding that Maaden is committed to Saudi Arabia Vision 2030 as regards encouraging the economic diversification.