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Fitch affirms SABIC's A+ rating
Fitch Ratings has affirmed SABIC's long-term credit rating at +A with a stable outlook, aligning it with its parent company, Aramco. The rating reflects a low level of debt, scale of operations, and cost competitiveness. The agency anticipates that net debt will rise by 2029 to nearly double its 2025 level due to significant capital expenditures, global oversupply, and short-term pressures from regional conflicts. Nevertheless, SABIC is expected to maintain strong credit indicators and financial flexibility, despite margins potentially decreasing during 2026-2029 before improving by the end of the period. SABIC will benefit from its new petrochemical project in China valued at $6.4 billion, scheduled to commence operations in 2027, as part of its transformation plan and expansion strategy.
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