RIYADH: Saudi Power Procurement Co., the sole licensed principal buyer of electricity in Saudi Arabia, received an A1 rating from Moody's Investors Service on May 23.
The rating reflects SPPC’s low-risk profile, the transparency of its regulatory framework, and its ability to maintain a good liquidity profile despite the high seasonality of working capital, it said.
"The A1 issuer rating and stable outlook assigned to SPPC are aligned with that of the Government of Saudi Arabia, because of the company's very close integration into the public sector, with a clear public policy mandate that aligns SPPC's interests and objectives with those of the government," Moody's lead analyst on SPPC, Paul Feghaly, said.
