 "Saudi Aramco")
Fitch on Monday downgraded Saudi Aramco by one notch after attacks last month on two production facilities, putting the rating of the state-owned oil giant at par with the one of Saudi Arabia, which the agency downgraded on September 30.
Aramco — the world's largest oil company and the most profitable — obtained its first credit rating of A+ by Fitch in April ahead of its inaugural public bond issue.
Fitch said at the time that the company had a higher "standalone credit profile" equivalent to AA+', but that its rating was "capped by that of Saudi Arabia in view of strong
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